This means a household using a typical amount of gas and electricity will see their bill rise by £111 a year, or £9.25 a month, to £1849 (information source BBC News Website).
Ofgem said rising wholesale costs and inflation were behind the latest energy price increase.
What is the Energy Price Cap ? - The energy price cap is the maximum amount energy suppliers can charge you for each unit of energy and standing charge if you're on a standard variable tariff, it affects 22 million homes in England, Wales and Scotland. (information source OFGEM website - Energy Price Cap) - Ofgem is Great Britain's independent energy regulator.
Energy Price Cap Level Dates - The levels for the next periods will be announced by:
According to the Money Saving Expert Website - Martin Lewis says 'The Price Cap is a pants cap – GET OFF IT IF YOU CAN. And fix now if you haven't already'.
Ofgem said switching to a fixed tariff provided certainty over payments and could reduce costs (information source BBC News Website).
Citizens Advice research suggests 6.7 million people in England, Wales and Scotland are already in debt to their energy supplier and that this price increase will be a 'painful blow for bill payers'.
If you are struggling to afford your gas and electricity bills - Citizens Advice gives the following simple advice - 'Your supplier has to help you come to a solution. You should try to negotiate a deal that works for both of you.' (more information on Getting Help if you're behind with your energy bills - Citizens Advice Website).
Solar Panels are fast becoming a more affordable choice - by generating your own electricity and lowering your bills as you have less reliance on the National Grid. Despite the upfront costs, Solar Panels are now a very realistic and attractive option, especially with Government Incentives available.
The Team at PDS Eco Ltd will be delighted to assist / advise you on how much money you can save on your Electric Bills by having Solar Panels Installed. Please feel free to Contact Us.
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Protect your business from future energy price hikes and gain control of your business running costs.
