The price cap is set by Ofgem, the regulator for the energy industry. The way the cap level is calculated is based on a range of factors, such as the wholesale cost of energy, network costs, policy costs, operating costs and prepayment meter costs. ...
More than half of energy customers do not know what Ofgem’s price cap is or how it works, a report claims. Of the households with a standard variable tariff (SVT), 68% said they didn’t know the price cap changes every three months and were unaware their bills can change four times...
These plans are the ones affected when the energy companies announce anenergy price rise. However, they're capped by theOfgem price cap, which is £1,738 from 1 January to 31 March 2025. While a standard variable tariff has usually been the most expensive type of tariff, fixed deals are...
There’s more to come, including obtaining permits and permissions, but we aim to have the wind farms ready by 2030, when we estimate they’ll have the potential to provide enough electricity for 6 million UK homes. (Based on Ofgem’s currently available typical domestic electricity consumption...
On May 24, the regulator warned that the next increase, set to come into play in October,will likely rise to£2,800. With the current cap at £1,971, this is a price increase ofroughly £900. Jonathan Brearley, Ofgem's chief, told the BBC that this could plunge 12 million hous...
Standing charge– a fixed daily fee charged while an electricity tariff is in place. The current Ofgem Energy Price Cap sets the maximum standing charge at 53p per day*. Maximising your savings means finding a balance between those factors to best suit your lifestyle. Here are some popular ...
With the current cap at £1,971, this is a price increase of roughly £900. Jonathan Brearley, Ofgem's chief, told the BBC that this could plunge 12 million households into fuel poverty. He also warned that the energy cap could rise further if Russia decides to withhold energy ...