UK energy regulator Ofgem is consulting on a one-off increase in the retail price cap, in a bid to help suppliers struggling with record-high levels of energy debt. Ofgem has proposed lifting the price cap by ￡16 for affected customers with typical dual-fuel consumption from April 2024-...
The price cap is currently set at £1,738 for average use dual fuel customers on standard variable tariffs until 31 March 2025. This increase reflects wholesale energy price instability driven by global events. If you're on a standard variable tariff, this is a good time to assess your op...
Earlier this month, the Bank of England expected inflation to peak at "slightly over 10 percent" in the last quarter of this year, due to a possible increase of the energy price cap in October. Britain's inflation rate has far exceeded the central bank's 2 percent target since last winte...
The consultation will be launched in November and a decision on any changes will be published in February, when the next price cap will be announced but in time for any changes to be implemented before it comes into effect in April. Some of the energy market's ...
UK energy regulator Ofgem is consulting on a one-off increase in the retail price cap, in a bid to help suppliers struggling with record-high levels of energy debt. Ofgem has proposed lifting the price cap by ￡16 for affected customers with typical dual-fuel consumption from April 2024-Marc...
should be set every three months, instead of every six yesterday. This too was met with some criticism, with fuel poverty charityNational Energy Actionsuggesting this would lead to an increase in bills in the middle of winter, further straining consumers struggling with the rising price cap. ...
Energy price cap now expected to rise in April as bills increase again in January Energy price cap rises again - with cost of bills expected to stay high for months Energy bills to rise again from January but spring falls to come, research firm Cornwall Insight forecasts ...
Households urged to submit energy readings as further price rises forecast The latest increase to energy bills comes amid warnings of plunging temperatures and forecasts of a near-3% hike to the price cap in April. By Josie Clarke, PA Consumer Affairs CorrespondentDecember 31, 2024 at 0:35pm ...
in place in January. (The urgency arises because Ofgem must review the Retail Price Cap ("RPC") in February, to take effect in April. The RPC takes account of network charges, which include SOLR Levy payments, so if these can be reduced or deferred, it may help to kee...
Energy bills to rise by £21 from January after second winter price cap increase Ofgem announced the average household energy bills will increase by 1.2% from January. 23 Nov Energy price cap predicted to rise in January, raising household bills by 1% Energy consultancy Cornwall Insight said it...