What is the energy price cap?
MILLIONS of households will pay £238 less a year for their energy bills from today, and could be forking out even less within months.The consultancy has predicted they will fall by £130 on July 1 from £1,690 to £1,560 when the new price cap comes into effect.
“While no household will want to see forecasts rising, it’s important to recognise that these do still represent a fall from the new cap coming in from April, itself a large drop."Huge child benefit changes coming to save 100,000s of parents £1,300 It was first introduced in January 2019 to protect customers from being overcharged and currently affects 27million.
Larger households containing four or five occupants should expect to pay £2,365 a year from today, based on a consumption of 17,000kWh of gas and 4,100 kWh of electricity. Thousands of vulnerable households are missing out on extra help and protections by not signing up to the Priority Services Register too.The unit rate will usually be shown on your bill in p/kWh.The standing charge is a daily charge that is paid 365 days of the year - irrespective of whether or not you use any gas or electricity.Once you have these details, you can work out your gas and electricity costs separately.
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