Ireland's datacentres used 22% of the country's electricity in 2023, increasing household bills by an average of €360 (2015-2023). A report warns this pattern could replicate across Europe, urging stricter renewable energy requirements for datacentres.
UK inflation dropped to 2.8% in April, down from 3.3% in March, driven by a lower household energy price cap. While welcome, the slowdown may be temporary as fuel costs rise due to the Middle East conflict.
GoFundMe reports a record number of rent-related fundraisers in the UK, with donations up 60% since 2022. Individuals are turning to crowdfunding to cover rent, household bills, and avoid eviction as housing costs and application refusals for discretionary housing payments rise.
Octopus Energy CEO Greg Jackson has suggested some households would accept occasional electricity blackouts in exchange for 25% lower energy bills, sparking controversy on the anniversary of Europe's largest power outage in Spain and Portugal. The comments come as UK dual fuel bills are expected to rise to almost £2,000 from July, with grid upgrade costs climbing from £254 to £457 annually. Jackson, 54, clarified he was not advocating for blackouts but said Spanish consumers would accept occasional outages for cheaper electricity. At least six people died in last year's Iberian blackout, including two who died after being unable to run breathing equipment.
Octopus Energy CEO Greg Jackson has suggested some households might accept occasional electricity blackouts in exchange for significantly lower energy bills, citing Spain's 25% cheaper electricity as a model. Speaking at an industry conference on the anniversary of Europe's largest power outage that affected tens of millions in Spain and Portugal, Jackson clarified he is not advocating for blackouts but argued consumers would trade reliability for lower costs. The comments come as Octopus Energy campaigns against tens of billions of pounds in UK grid investment that it says drives up household bills.
Civil construction firms warn surging diesel and material costs driven by the global oil crisis will force lay-offs and project delays, with nearly a third considering winding down.
India's economy shows resilience amid Middle East crisis, with household spending largely unaffected by rising energy prices, though consumer confidence is slightly dipping. While manufacturing faces some impact, the services sector remains robust, and overall growth for Q4 FY26 is projected to remain strong, with limited downside risks.
The UK government is planning a major overhaul of its electricity pricing system to decouple power costs from gas prices. The reform aims to increase the role of cheaper renewables, though experts warn of short-term volatility and complexities regarding regional pricing.
