With the energy price cap dropping on July 1st, Money Saving Expert advises taking meter readings and potentially topping up prepay meters to ensure you benefit from the lower rates. While the savings may seem small, they can add up to significant amounts over the year. However, the cap is expected to rise in October, so consider building up credit or looking into fixed deals to avoid future price hikes.
The European Union has approved new electricity market regulations designed to mitigate price surges, safeguard consumers and businesses, and accelerate the transition to clean energy. The revised framework empowers governments to cap prices during times of crisis and promotes investments in renewable and nuclear power. The reforms aim to enhance energy security, affordability, and transparency in the EU’s internal market.
To curb soaring healthcare expenses, California has imposed a 3% annual cap on price hikes by doctors, hospitals, and health insurance companies, effective 2029. The Health Care Affordability Board approved this measure to combat California’s 5.4% healthcare cost increase over the past two decades, which outpaced income growth. The cap will be phased in over five years and enforced by the Office of Health Care Affordability, with potential fines for non-compliance. Despite support from the healthcare industry for a cost target, they argue the 3% cap is unsustainable, citing rising expenses like worker salaries and a new $25 minimum wage for healthcare workers.
In a bid to curb rising medical costs, the California Health Care Affordability Board has approved a 3% annual price increase cap for doctors, hospitals, and healthcare providers in the state, starting in 2029. This cap aims to address the escalating costs of healthcare in California, which have been rising at a rate of 5.4% per year for the past two decades. The cap will be implemented gradually over five years, with a 3.5% increase in 2025. A new state agency, the Office of Health Care Affordability, will be responsible for enforcing the rule, and providers who fail to comply could face fines.
