Ofgem - the energy regulator - sets an energy price cap which limits the maximum amount each supplier can charge per unit of energy in order to keep prices fair for consumers. On 23rd August 2024, the energy regulator announced that the energy price cap will be £1,717 from 1st October...
The energy price cap was introduced at the beginning of 2019 by regulator Ofgem as a method of capping energy prices at reasonable levels for UK households. The energy cap limits how much supplies can charge you per unit of gas and electricity used, so there’s no upper limit to what you...
Translated into cash terms, it means a typical home (a two to three bedroom house) might save around £65 a year under the new Ofgem energy price cap.[9] Be sure to check your boiler manual if you’re unsure about what you’re doing. Nesta has a helpful guide on how to save cas...
As with household energy, switching your business energy supplier could save you money in the long run. This is especially true if you have just moved into new business premises, where you will typically be placed on an expensive deemed rate that you haven’t chosen. It can also help make ...
Energy price rises will affect you - only up to Ofgem's price cap You’ll pay different amounts which can make budgeting more tricky You're not protected from what's happening in the energy market There are rarely any special offers or deals available ...
“Checking eligibility each year is a good routine to get into, as the criteria could have changed since last checking. Using our eligibility checker is a great first step.” FAQs What will happen to energy prices? Ofgem's energy price cap level is set at £1,738 for an average use ...
However, the disadvantages probably outweigh this. Nearly all suppliers offer a discounted price for paying byDirect Debit, as this ensures prompt, regular payments. Recent reports by the energy regulator Ofgem estimate that cash and cheque customers end up paying £100 a year more on average fo...