The price cap will help push average annual household bills down by around £151 from the start of October.
Meanwhile, the standing charge has risen from 74p last winter to 83p this year, adding a little under £3 per month to bills.
“With almost three million households set to see their bills rise by over £100 – at a time when inflation is still sky high – the Government must up its game in providing longer-term support for hard-pressed families with a new social tariff for energy bills.”ELECTRICITY Unit rate: 27.35p per kWhStanding charge: 53.
Citizens Advice head of energy policy Gillian Cooper said targeted support for households would be desperately needed. Mike Thornton, chief executive at the Energy Saving Trust, said: “A key priority must be to support individuals to use less energy in their homes and buildings to start with. Friday’s announcement also raised the issue of whether the price cap is suited to the job it is now doing.Even Ofgem itself questioned the policy’s effectiveness on Friday, saying: “While the price cap has protected households from the full extent of volatility and surges in wholesale prices over the last two years, it was originally introduced by the Government to protect the minority of consumers who did not switch rather than to cover the vast majority of consumers, as it does now.
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Energy bills to fall by £151 for millions in October as new price cap confirmedENERGY bills are set to fall by £151 for millions of households this winter. The energy regulator Ofgem has confirmed the new price cap, which comes into effect on October 1. The cap has …
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Energy bills to fall slightly from October for the typical householdEnergy regulator Ofgem said today that the new cap on a unit of gas and electricity for England, Wales and Scotland would reduce the average bill to £1,923 from October 1, from £2,074 per year.
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