The price cap changes every three months
Energy prices will rise this winter after Ofgem announced its new price cap. and had been falling in recent months, down to its lowest in two years . From 1 October 2024, the cap will be set at an average of £1,717 a year for a typical dual-fuel household paying by direct debit. That’s an average increase of 10% per household or £149 per year. However, the changes will affect each household differently. Standing charges remain the same as current levels.
Average energy bills will at least be 6% lower than they were last October when the cap was set at an average £1,834, £117 higher than it will be this year. This comes after around 10 million pensioners were told they will lose winter fuel payments, worth between £100 and £300 this winter. Jonathan Brearley, CEO of Ofgem, said: “We know that this rise in the price cap is going to be extremely difficult for many households.
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