Why are UK energy bills for consumers still rising?

UK, EU leaders to meet on Monday to finalise N. Ireland deal

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📚 Daily Digest  |  Monday, Feb 27, 2023     UK, EU leaders to meet on Monday to finalise N. Ireland deal   © Reuters. British Prime Minister Rishi Sunak is expected to announce a new deal on post-Brexit trade rules for Northern Ireland on Monday, gambling that the reward of better ties with the European Union is worth any discord it might cause within his own party. In power for only four months, Sunak is pursuing a high-risk strategy that he can find a compromise to improve relations with Brussels - and the United States - without sufficiently angering the wing of his party most wedded to Brexit. Read More     Today's Top News Commodities Explainer-Why are UK energy bills for consumers still rising? British energy regulator Ofgem on Monday lowered its price cap on household energy bills from April, but this will offer little relief to consumers as energy costs continue to rise. Wholesale energy prices have fallen by around 50% from last December but retail bills for households and businesses do not yet reflect this. Here are some reasons why Economy Buffett blast, Pfizer eyes Seagen, Bund hits 12-year high - what's moving markets Benchmark Eurozone bond yields hit a 12-year high as the market pushes out its expectations for the first cut in ECB interest rates. The U.K. and EU are on the verge of settling their differences over Northern Ireland, and potentially triggering another civil war in the ruling Conservative Party, and oil prices fall as Bank of America analysts slash their forecasts for the year. Here's what you need to know in financial markets on Monday, 27th February. Forex Hopes for Northern Ireland deal send sterling higher Sterling rose on Monday amid renewed speculation Britain and the European Union will finalise a Northern Ireland deal, which could resolve post-Brexit tensions. Stock Markets HSBC could downsize global HQ as staff stick to remote working HSBC Holdings PLC may downsize from its current headquarters, a Canary Wharf skyscraper, as the shift to flexible working continues to leave its offices unused. Commodities Factbox-How the EU ban on Russian crude affects oil flows Russia's crude oil exports to the European Union in January fell to around 600,000 barrels per day (bpd) from 1 million bpd in December as seaborne volumes dried up except to Bulgaria, International Energy Agency (IEA) data showed. Read More News » Today's Top Analysis     Feb 27, 2023 by Ismael De La Cruz S&P 500: Is the Rally Over?   by Ismael De La Cruz  |   Feb 27, 2023   Feb 27, 2023 by Anthony Cheung This Week in Markets: 27th Feb - 3rd Mar 2023 (Brexit Deal & EZ Inflation)   by Anthony Cheung  |   Feb 27, 2023   Feb 27, 2023 by Barani Krishnan Commodities Week Ahead: An Oil Rally Will Need China Data, Not Just Supertankers   by Barani Krishnan  |   Feb 27, 2023   Feb 27, 2023 by Timothy Fries What to Expect From the Fed After January PCE Overshoots Forecast   by Timothy Fries  |   Feb 27, 2023   Feb 27, 2023 by Michael Kramer 8 Stock Market Predictions for the Week Ahead: Stocks May Drop Further as Rates Rise   by Michael Kramer  |   Feb 27, 2023 Read More Analysis »

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