In October 2022, when Ofgem's price cap level was forecast to rise to £4,279 in January 2023, the Energy Price Guarantee was introduced to protect customers from unprecedented energy bills. It was designed to act as a "safety" price cap operating at a level of £2,500 per year (...
LONDON, May 24 (Xinhua) -- The energy price cap in Britain is expected to rise to around 2,800 pounds (about 3,510.67 U.S. dollars) per year in October, the chief executive of the Office of Gas and Electricity Markets (Ofgem) warned on Tuesday. Due to the Russia-Ukraine conflict, ...
Ofgem has announced a drop to its energy price cap from the current £3,280 per year to £2,074 for the average household in England, Wales and Scotland.The change, which will take effect from July 1, is due to falling wholesale energy prices. ...
Energy Security Secretary Grant Shapps described October's fall in the price cap as "encouraging" - and claimed it was another milestone in the government's promise to halve inflation. "We are successfully driving Putin out of global energy markets so he can never again hold us to ranso...