Energy price cap that could save you £120 among three new laws coming into force TODAY
New rules on fishing and firms recording the ratio between top an middle-earning employees have come into force on New Year's Day
ENERGY firms will finally be banned from charging you more than a set amount from New Year’s Day.
The cap - introduced by Theresa May’s government - is set to help 11million families currently on a "default tariff".
Default tariffs are what you end up on if you choose not to switch, or if a fixed-term tariffs comes to an end and you fail to pick a new one.
OFGEM set the cap in November at £1,137-a-year for typical dual fuel customers paying by direct debit.
This will save typical customers an average of £76 a year, rising to £120 for those who've been getting the worst deal.
The cap could still rise to keep up with inflation and market forces.
New EU fishing quotas could be ‘devastating’
New dictates from Brussels on fishing are coming into effect today- and a watchdog has warned they could be "devastating" to Brit fisherman.
The "landing obligation" forces boats to bring fish caught beyond their quotas to shore, instead of tossing them back into the sea.
After a four-year phasing-in period, it comes into effect in full on New Year’s Day.
The goal is to conserve fish stocks by encouraging trawlermen to be more selective about what they catch.
But the law has been branded "badly designed" by UK fishermen as it could clog up busy harbours with even more paperwork.
The House of Lords EU Energy and Environment Sub-committee heard evidence that the rule could mean fishermen hitting their annual quotas much earlier in the year.
This could lead to an estimated £165 million worth of fish remaining uncaught in 2019 as a result, badly damaging the pockets of fishermen.
Firms will be forced to record their pay gap 'ratio'
From today UK companies with more than 250 employees will have to start recording the “ratio” between their highest-paid and average-salary employees.
This means if you work in a mid-ranking role at a software giant or Bank, you'll know how many more times your salary the CEO is raking in.
January 1st is the day the pay gaps start being recorded but they will not actually be published till 2020.
The way of measuring ratios has also come under fire, because it doesn't look at the lowest-paid staff, such as cleaners.
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