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UK energy bills to fall by £138 in April, experts predict
UK energy bills are set to fall by £138 by April – despite households expecting a rise on Thursday during the next bout of cold weather.
Experts at Cornwall Insight said they expect energy bills to fall by £138, or 8 per cent, to £1,620 a year when the cap is next updated in April due to government measures announced in the recent Budget.
Chancellor Rachel Reeves said £150 would be cut from the average household bill from April by scrapping the Energy Company Obligation (Eco) scheme introduced by the Tories in government.
Wholesale energy prices have also dropped in recent weeks, which is set to keep a lid on energy price hikes from April, according to Cornwall Insight.
But, before then, many households’ energy bills are to rise on New Year’s Day, just as a swathe of cold health alerts have been issued for large areas of the UK.
The 0.2 per cent increase to Ofgem’s energy price cap will equate to a rise of about 28p a month for the average household in England, Wales and Scotland remaining on a standard variable tariff.
This amounts to an average overall bill of £1,758 a year, up from the current £1,755.
Regulator Ofgem said Thursday’s increase in the cap, which was announced in November, was being driven by the funding of nuclear power projects and discounts to some households’ winter bills.
This included funding the government’s Sizewell C nuclear power plant in Suffolk – with an average of £1 added to each household’s energy bills per month for the duration of the £38 billion construction.
An increase to standing charges – the amount consumers pay per day to have energy supplied to their homes – was also largely due to costs linked to the government’s warm home discount scheme.
Around 2.7 million more low-income households, including 900,000 families with children, are eligible for the £150 discount this winter.
However, the regulator said the new price cap was £37 lower than a year ago when adjusted for inflation.
Ofgem’s price cap sets a maximum rate per unit and standing charge that customers can be billed when they are not on a fixed tariff.
It does not limit total bills because households still pay for the amount of energy they consume.
The price cap increase comes just as a yellow warning for snow and ice has been issued for parts of Scotland north of the central belt from 6am on New Year’s Day until midnight on January 2.
It comes as amber cold health alerts have been issued for the North East and North West of England, which are due to remain in place until noon on January 5, with temperatures expected to fall to 3-5C.
Yellow cold health alerts have been issued by the UK Health Security Agency (UKHSA) for London and the East, South East and South West of England, as well as the East and West Midlands and Yorkshire and the Humber.
Simon Francis, co-ordinator of the End Fuel Poverty Coalition, said: “It really is a case of every little doesn’t help as households spend a fifth winter in the energy bills crisis. Tiny movements in the price cap still hit hard for families choosing between heating and eating.
“People continue to live in cold, damp homes, where the risks go beyond discomfort and into real danger, including exposure to carbon monoxide. Younger adults, private renters and households with children are among those most at risk as people cut back on heating, delay repairs and try to block draughts just to stay warm.
“Meanwhile, the wider energy industry has made more than £125 billion in UK profits since 2020, including firms operating in a dying North Sea. This isn’t a crisis of scarcity, it’s a crisis of priorities. Ministers must move beyond short-term price cap tweaks and get serious about ending fuel poverty by investing in energy efficiency, reforming energy pricing, introducing a fair social tariff and fully funding the warm homes plan.”
Which? energy editor Emily Seymour said: “As we head into the coldest months of the year, many households will be concerned that the energy price cap will increase slightly in the new year.
“There are several deals on the market for lower than the price cap so now is a good time to shop around if you’re looking to fix. As a rule of thumb, we’d recommend looking for deals cheaper than the current price cap, not longer than 12 months and without significant exit fees.
“If you’re on a variable tariff, make sure to submit a meter reading to ensure you pay the cheaper rates for any energy used before the new price cap takes effect.”
Business
US stock market today (April 10, 2026): S&P 500, Nasdaq rise on tech gains after inflation data – The Times of India
US equity benchmarks traded mixed on Friday, with the S&P 500 and Nasdaq moving higher on strength in technology stocks after March inflation data came in line with expectations, while investors kept a close watch on geopolitical tensions in the Middle East.US consumer prices rose the most in nearly four years in March, driven by higher oil prices linked to the Iran conflict and continued tariff pass-through. Despite this, traders maintained expectations that the US Federal Reserve will hold borrowing costs steady this year, scaling back earlier bets of two rate cuts prior to the conflict, according to Reuters.“When paired with Thursday’s PCE data, the message is clear: inflation remains sticky – and that optimistically assumes the energy surge proves to be a temporary headwind rather than a lasting recalibration,” said Bret Kenwell, US investment analyst at eToro. “It should keep policymakers on pause, unless we see a more notable deterioration in the labor market or the broader economy.”San Francisco Fed President Mary Daly told Reuters on Thursday the oil shock from the Iran war would extend the timeline on bringing inflation back to the US central bank’s 2% target.At 10:15 a.m. ET, the Dow Jones Industrial Average was down 109.60 points, or 0.23%, at 48,076.20, while the S&P 500 gained 10.56 points, or 0.15%, to 6,835.22, and the Nasdaq Composite rose 123.70 points, or 0.54%, to 22,946.11.Gains were led by technology stocks, with the S&P 500 information technology index advancing 0.8%, supported by chipmakers. Nvidia rose 1.8% and Broadcom climbed 4.4%, while the Philadelphia Semiconductor index touched a record high of 8,926.08.However, declines in financial stocks, down 0.8%, limited the broader upside. Goldman Sachs and Travelers weighed on the Dow.On a weekly basis, Wall Street’s main indexes were poised for gains, with the S&P 500 and Dow set for their strongest weekly rise since November and June, respectively.Investor sentiment was supported by the two-week ceasefire between Washington and Tehran, along with remarks from Israeli Prime Minister Benjamin Netanyahu indicating efforts to initiate direct talks with Beirut. However, the Pakistan-brokered truce showed signs of strain, with both sides accusing each other of violations ahead of talks scheduled for Saturday.“This is a headline-driven market… as long as the ceasefire holds and the market sees a path toward relative calm in the Middle East, investors should be able to look through disruptions,” said Jeff Buchbinder, chief equity strategist at LPL Financial.Separately, preliminary data showed the University of Michigan’s consumer sentiment index fell to 47.6 in April, below economists’ expectations of 52, according to a Reuters poll.US-listed shares of Taiwan Semiconductor Manufacturing, the world’s largest contract chipmaker, rose 2.7% after reporting stronger-than-expected first-quarter revenue.CoreWeave advanced 6.8% after announcing a multi-year agreement with Anthropic and pricing its convertible bond offering at a premium.Advancing stocks outpaced decliners by a 1.22-to-1 ratio on the NYSE and by 1.07-to-1 on the Nasdaq. The S&P 500 recorded 17 new 52-week highs and 18 new lows, while the Nasdaq logged 84 new highs and 70 new lows.
Business
US inflation jumps to highest level in almost two years
A surge in prices at the pump due to the Iran war has pushed the inflation rate to 3.3%.
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The Masters has become the biggest event of the year for private jet companies
Vista House, a private home in Westlake, Georgia, sponsored by Vista Global during the Masters.
Credit: VistaJet
A version of this article first appeared in CNBC’s Inside Wealth newsletter with Robert Frank, a weekly guide to the high-net-worth investor and consumer. Sign up to receive future editions, straight to your inbox.
Private jet companies are rolling out the red carpet for their top clients at the Masters Tournament, as competition shifts from the air to the ground with lavish hospitality events and experiences.
Thousands of private jets are expected to fly in and out of Augusta, Georgia, and nearby airports for the Masters in the coming days, making it one of the most important events of the year. NetJets, the industry leader, expects more than 775 flights into and out of Augusta, marking a 35% to 40% increase from last year, the company said. Flexjet is projecting about 350 to 400 flights, and Vista projects over 20 flights a day.
“Demand is off the charts,” said Mike Silvestro, CEO of Flexjet. “The Masters is like nothing else.”
On the private jet calendar, Davos, the Super Bowl, Cannes, the Kentucky Derby, the Monaco Grand Prix and Art Basel all attract plenty of private jets and wealthy attendees. But the Masters has a unique combination of tens of thousands of well-heeled attendees and a full week of events, creating a constant flow of clients flying in and out.
The swarm of Gulfstreams, Phenoms and Challengers is straining Augusta Regional Airport. Kenneth Hinkle, director of aviation services at the airport, said it had 3,294 flights last year and he expects an increase this year. The airport raised its “special event fee” this year by 25%, to between $150 and $4,000 per plane, depending on size, and expanded its jet parking area to accommodate 200 jets at a time.
The competition among private jet companies for landing slots, parking spaces and access to and from the terminal has grown so fierce that many companies have moved to nearby airports in Thomson, Georgia, or Aiken, South Carolina.
A photo rendering of NetJets’ new Augusta terminal.
Credit: Courtesy of NetJets
The real battle however, begins after the jets land. Jet companies are renting out mansions to create branded pop-up clubs, hiring Michelin-star chefs and well-known mixologists, hosting nightly parties with the biggest names in golf, and vying to attract the top players and announcers as headliners. Many are even staging private concerts with Grammy-winning country stars.
The spending is all part of a new race in the private jet business.
Private jet flights hit an all-time record in 2025, with 3.9 million departures, up 34% from pre-Covid levels. Recent U.S. government shutdowns and airport delays have only increased demand, jet companies say.
“We want to stay connected with our customers beyond just when they’re the air with us,” said Pat Gallagher, President of NetJets. “We’re a world lifestyle business. We’re a luxury business. If somebody asks me what business I’m in, I don’t say I’m in the travel or aviation space. I’m in the hospitality business.”
Longtime Masters fans say the hottest ticket of the week outside the Augusta National Golf Club is the NetJets Friday night party. NetJets won’t disclose any details on the location or entertainment for this year’s bash. But past parties have been hosted by sports commentator Jim Nantz and featured musical guests like Noah Kahan, Chris Stapleton and Zac Brown.
For the rest of the week, NetJets clients can use the brand’s hospitality venue to relax, grab a meal or drink, or hold a meeting. Some of NetJets’ more than 30 golf ambassadors who are playing at the Masters are also expected to pass through. Gallagher said the Masters is one of nearly 100 events a year now hosted by NetJets.
The company also just announced a new private jet terminal at Augusta Regional. The project, still under construction, includes 432,000 square feet of ramp space for jet parking.
“The number of jets that are parked on the [Augusta] runways, it’s like nothing you’ve ever seen from a from an aviation perspective,” Gallagher said.
Vista Global will be hosting clients at Vista House, a private home in Westlake, Georgia, that will be transformed into a branded hospitality venue in its signature silver and red. It will have nightly dinners, entertainment and special appearances by Vista brand ambassadors Gary Player, Jon Rahm, Phil Mickelson and Patrick Reed.
Vista hosted its big welcoming party Wednesday night with a private concert. The company said the goal is to give Vista House the same brand feel of its planes, from flight attendants serving in their Moncler-designed uniforms, to Vista’s signature scent designed by Le Labo to its ever-popular Vista beach towels. Clients of VistaJet and XO — both owned by Vista Global — will get access to Vista House as well hospitality space at the Double Eagle Club, close to the Augusta National Golf Club.
Vista said some of its clients fly in from as far away as Japan, South Korea, Singapore, India and Brazil.
“I think the Masters, especially in the past five years, has become more pronounced for us,” said Leona Qi, president of VistaJet U.S. “It’s a place where our clients — the ultra-high-net-worth individuals and corporate executives — go to not just to watch the game, but to really connect with each other and get deals done. And to share the passion and the experience with each other.”
Wheels Up will open the “Wheels Down Club” in Augusta, just a 10-minute walk from the entrance to Augusta National. The club, a temporary structure built around an existing home, will offer 11,000 square feet of hospitality space. Guests can valet their cars, get snacks and drinks in between rounds and check in their phones (a prized service since no cellphones are allowed on the course).
Wheels Up is running a “Wheels Down Club,” just a 10-minute walk from the entrance to Augusta National at the Masters.
Credit: Wheels Up
Wheels Up, now controlled by Delta Air Lines, expects to host 600 guests a day at the club. Big names on the program include Delta CEO Ed Bastian; Eric Kutcher, the North America chair of McKinsey & Co.; and Apple executive Eddy Cue, along with pro golfers. Chef José Andrés will host a “Jamon and Caviar” tasting and mixologist Tyler Zielinski will be making his signature “tiny cocktails.”
“The Masters has really become our tentpole event,” said Kristen Lauria, chief marketing officer for Wheels Up. “Whether it’s for members, whether it’s for prospects, or whether it’s for our partners who entertain their clients on the ground, it’s becoming bigger and bigger and bigger.”
Lauria said Wheels Down events will continue to expand into other sports, like tennis, equestrian and motorsports, as well as culinary and luxury lifestyle events. She said the clubs also help attract new clients who come in as guests of existing members.
“As I look at different ways to create demand, it’s really about going to where our customers are and where our members are,” she said. “Time is of the essence for our members. So showing up where they’re already going or where they’re planning to be, is a return in and of itself.”
Flexjet is taking a different approach. Rather than joining the spending spree of pop-up clubs and parties, the fractional jet company says it’s focused solely on its core business of getting clients to and from the event.
With Augusta Regional Airport highly congested during Masters week, Flexjet decided this year to move its operations to the Thomson-McDuffie Regional Airport in Thomson, Georgia. The airport is a short drive to the course at Augusta, is closer to the areas where attendees usually stay, and will allow Flexjet clients to get in and out quickly.
“The infrastructure in Augusta is taxed,” Silvestro said. “We’re trying to stay ahead of the curve and have the experience that we deliver to our customers be as seamless and stress-free as possible.”
Silvestro said clients will have an exclusive executive area at Thomson and can be picked up and dropped off right in front of their planes. He said the Masters has become so oversaturated with parties and events that Flexjet’s clients already have too many events to choose from.
“I shake my head at some of the hospitality extravagances from some of the people that are operating our space,” he said. “We see people doing certain things in and around our space that don’t make a lot of sense to us.”
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