The Prime Minister's cap on energy prices to protect households from rip-off bills will be a "temporary measure", it has been revealed.In a statement to financial markets, ministers revealed their plans to publish a draft law later on Thursday to cap energy prices for those on a standard variable tariff and other default tariffs.But the law will expire in 2020, it was disclosed."The cap would be a temporary measure, having effect initially until the end of 2020," the statement added."The need for it would be kept under review, and extensions could be made, on the advice of Ofgem, up to the end of 2023 at the latest."If passed, the proposed legislation would force regulator Ofgem to impose an "absolute cap" as soon as possible.Video:4 October - Key announcements in May's speech overshadowed...
A price cap on energy bills proposed by the prime minister last week is unlikely to take effect before winter.Theresa May had vowed to revive a plan to cap charges for an extra 12 million consumers.However, Ofgem said it would have to wait for legislation to be in force before it could take action on standard variable tariffs.Until then a more limited price cap will cover another one million low income households, the regulator said.That move will, on average, save households £120 a year, the regulator said.Last week Business Secretary Greg Clark said a gas and electricity price cap could be imposed as early as this winter should Ofgem decide to use its powers.Media playback is unsupported on your deviceThe BBC understands that Ofgem is reluctant to do so because it believes energy compani
Aldi has reported record sales in the UK and Ireland for last year but its profits have fallen sharply amid a fierce price war among supermarkets.The German discounter said sales rose 13.5% to £8.7bn in 2016, but operating profit dropped 17%.The chain blamed the fall on its "continued investment in prices and infrastructure".Aldi chief executive Matthew Barnes said its strategy was to offer "the lowest prices in Britain"."We're doing everything we can to insulate customers from those cost increases, making sure our prices are the lowest in the UK, every day of the year," he said. Aldi, which currently has 726 stores in the UK, said it planned to open a further 70 this year and would invest a further £459m.The German chain currently has a 6.9% share of the market, according to the latest in
The Loose Women star's show in Stevenage got off to a bad start last night, with the crowd kicking off after she was 20 minutes late.Katie – who is divorcing husband Kieran Hayler – finally appeared on stage only to be met with hecklers shouting "Poor show", and chanting her name.The Celebrity Big Brother winner shifted the blame for her late arrival elsewhere, telling the impatient audience that it was her dinner's fault.**KATIE PRICE NEWS: BOMBSHELL FLASHES UNDERCARRIAGE**Katie revealed: "I've been waiting for my chicken Nando's that's why I'm late!"However, things soon took an X-rated turn when Katie began flirting with a male member of the audience.WENNKATIE PRICE: The Loose Women beauty told the her crowd she wasn't wearing any knickersKatie Price's sizzling calendar pics REVEALED&nbs
InstagramDIVORCE: Katie Price is divorcing third husband Kieran HaylerThe Loose Women starlet has confirmed she is divorcing her third husband, who famously cheated on her in 2014 with her best friend Jane Pountney.Revealing that her marriage has reached a turbulent end, Katie told The Sun that Kieran has had another affair this year, with someone they both know.The 39-year-old admitted she was "gutted" that the relationship was over.Katie Price in pictures British television personality and glamour model, Katie Price in pictures. INSTARimages.com Katie Price's hottest pictures InstagramIT'S ALL OVER: Katie claims Kieran has had a year-long affair with someone they both knowKatie — who was pictured without her wedding ring earlier this week — claims she confronte