Up 80%
https://www.moneysavingexpert.com/ne...ew-price-cap-/
Energy bills will rise by a typical £1,578/year for 24 million households in October, as regulator Ofgem confirmed the largest ever hike to the energy price cap this morning. We’ve been warning for months this catastrophic rise was coming, and now we know how bad it’ll be. Here’s what you need to know – including what you’ll pay under the new rates and whether it’s worth fixing.
The 80% increase is due to Ofgem raising the price cap on standard and default tariffs from £1,971/year for a typical user paying by direct debit to £3,549/year from 1 October, amid record wholesale costs (what firms pay). And with suppliers typically pricing their standard tariffs within a pound of the cap, it will be a tough winter for many.
https://www.moneysavingexpert.com/ne...ew-price-cap-/
Energy bills will rise by a typical £1,578/year for 24 million households in October, as regulator Ofgem confirmed the largest ever hike to the energy price cap this morning. We’ve been warning for months this catastrophic rise was coming, and now we know how bad it’ll be. Here’s what you need to know – including what you’ll pay under the new rates and whether it’s worth fixing.
The 80% increase is due to Ofgem raising the price cap on standard and default tariffs from £1,971/year for a typical user paying by direct debit to £3,549/year from 1 October, amid record wholesale costs (what firms pay). And with suppliers typically pricing their standard tariffs within a pound of the cap, it will be a tough winter for many.
Comment