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'Energy bills to rise by 5% as new Price Cap is announced – what you need to know'
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Energy regulator Ofgem has this morning announced the Energy Price Cap will rise by 5%
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Energy regulator Ofgem has this morning announced the new Energy Price Cap, with prices set to rise by 5% on average from January.
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https://www.ofgem.gov.uk/publications/changes-energy-price-cap-1-january-2024
From 1 January 2024, for a typical user paying by direct debit, the unit rate will be 29p/kWh for electricity and 7p/kWh for gas. The average daily standing charge will be 53 p/day for electricity and 30 p/day for gas.
The reason for the rise increases in wholesale costs
https://www.ofgem.gov.uk/publications/increased-wholesale-energy-costs-lead-rise-price-cap
And finally the proposals for levelling standing charges across different payment methods when the Government subsidy ends Mar 2024
https://www.ofgem.gov.uk/publications/changes-prepayment-meter-standing-charges-and-other-debt-costs0 -
Another (not unexpected) hit to the standing charge, no doubt won’t go down well with many. On the upside unit rate still below 30p which doesn’t seem as bad as it could have been all things considered.
Moo…4 -
Is it worth fixing before January?0
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Comparing it to BG, fixed rate the one you’ve mentioned is slightly cheaper. I’m confused0
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Lady0fdragons said:Is it worth fixing before January?
Savings of 20-35% over the price cap over the last 365 days1 -
TheElectricCow said:Another (not unexpected) hit to the standing charge, no doubt won’t go down well with many. On the upside unit rate still below 30p which doesn’t seem as bad as it could have been all things considered.2
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TheElectricCow said:Another (not unexpected) hit to the standing charge, no doubt won’t go down well with many. On the upside unit rate still below 30p which doesn’t seem as bad as it could have been all things considered.
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Lady0fdragons said:Comparing it to BG, fixed rate the one you’ve mentioned is slightly cheaper. I’m confused
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are you talking about the headline or the article? iv'e not read the article but surely the headline is correct on this occasion?0
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i know i should have links to most stuff by now but is it too early to see a regional breakdown of costs anywhere??0
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