Energy regulator Ofgem is tomorrow set to slash the energy price cap which could have a big impact on how much households pay
Energy regulator Ofgem is on Friday set to slash the energy price cap but many households will likely see higher monthly bills this winter than last year. The cap – which limits the amount that a supplier can charge per unit of gas or electricity they sell – is expected to fall, cutting around £150 per year off the average annual household energy bill from the start of October.
Last winter the average household energy bill was £2,500 per year, thanks to the Government’s Energy Price Guarantee scheme. Households were also getting £66 per month taken off their bills by the Government. It has caused charity National Energy Action to warn that 6.3 million households could be trapped in fuel poverty this winter. It is somewhat less than last year, but far ahead of the 4.5 million in October 2021. “The price cap does not protect those who simply cannot afford the cost of keeping warm,” said NEA chief executive Adam Scorer.
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