On Friday 26th August, energy regulator Ofgem announced the new price cap for household energy bills will be £3,549 per year. The cap indicates the maximum amount that suppliers are able to charge their customers per unit of gas and electricity used, as well as setting a cost for the daily standing charge, and will come into effect on October 1st.
The price cap currently stands at £1,971 per year, based on typical use for the average household, which is already a 54% increase on the £1,277 per year that was in place between…The UK Price Cap Has Plunged Millions Into Energy Poverty
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