Under the energy rebate scheme, six installments of about £66 were paid monthly to bill payers from October."While prices under the cap remain considerably higher than historic norms, the combination of falling wholesale prices and an increase in the energy price guarantee could see the return of competitive tariffs, and with it the chance for consumers to take back some control over their energy bills," Dr Lowrey said.
As a result of the reduced cap and the high energy price guarantee, the amount of money paid by the government will fall. Cornwall Insights have predicted the government will save about £2.6bn as a result.That spending on the energy price gap, however, will effectively be zero from July until the end of 2023 as Ofgem's energy price cap is expected to fall below the government's energy price guarantee, according to Cornwall Insights.
Ofgem announces new price caps four times a year and the July and October caps are forecast to be below £3,000. Such caps would mean there is no price difference in the amounts charged by energy companies and the amount customers pay.Special report: UK energy crisis From July to September the cap will be £2,153, Cornwall Insights expects, rising in the final three months of the year to £2,161, all sums below the current £3,000 energy price guarantee.
Cornwall Insights became a prominent voice in predicting levels for the energy price guarantee's predecessor, the energy price cap.
Energy companies just made 150 billion in profits, can someone explain why it's going up?
500?
We are all fucked then
You mean a year! Still not good but not as bad as a month.
£500 a month Hope that’s a typo
Have the energy companies not fleeced us enough yet ?
🤣🤣🤣 now they’re taking us all for a ride what a joke
Under this inept administration, nothing would surprise me, however, I suspect that this story is not quite correct.
They won't in my household As I will refuse to pay it
Bit early on the April Fools … or have Liz/Kwasi been giving you their sums? DoBetter
Oh so just after all these companies reveal record profits! Wholesale price is as cheap as it’s ever been! Time to cancel direct debits and start standing up for yourselves. Enough is enough
Ofcom
£500 a month (not year) iis still a kick in the teeth for people struggling while energy company profits triple. What's the fucking point of Ofgem?
£500 a year….
It won’t be £500 a month will it you jokers. That would mean energy bills are set to be almost £10k a year. At least post realistic drivel.
Can't be right?!
Might wants to check your maths on that one lads
We are all millionaires and we can afford our bills!!! What a joke!!!
Whoever wrote this tweet needs to read the article £500/year increase. Hang your head in shame sky putting fear in to people!!!
Wholesale prices at rock bottom?
Middle class working people can’t afford these expenses anymore Teagic reality here in USA too RobertoRTejera ricardobrown
I’ve said it before, hire a proof reader! £500 a year you 🤡
Who did you get them figures off Diane Abbott
£6,000 per year? Who’s calculating it, Diane Abacus?
£500 a month? Sky out here trying to incite a riot. I’m all for it.
Even if it's £500/year it's still robbery by these TheBigCons criminals ConservativeCriminals ToryCriminalsUnfitToGovern ToryCorruption ToryScumOut
Corrupt capitalism. Money get handed to billionaires and dangled to working families.
We are having the piss taken out of us
That is criminal. Prices should be coming down. We are being robbed and the tories are not looking after our interests.
Unfair on the consumers again . Fiddling again
Shocking
Ah fair play, at least they can maintain their obscene profits whilst the average person struggles to pay bills and put food on the table. Thank christ the Tories didn't freeze prices longer otherwise they may only make 5 billion in the nezt few months.
Costs haven't come down though..... Come on sky that is lazy reporting. Costs since last have come down that is true, but they were twice as high as they normally were last year. They are still double what they were 2 years ago
Surely the government and Offcom have to take this nonsense to task!!
We need to find a nice brick wall, then ........................
We see you've turned comments off after hounding Nicola Bulley's family. No apology and no shame. What a hateful organisation, especially after they asked for privacy.
I'm sorry about this but we will continue to be fucked up our ass, until feet are on the street protesting . Enough is enough
Got to pay those fossil fuel giants off before shutting down production altogether
How many billions have we handed to Ukraine this month?
Absolutely disgusting
Big drop from July but why not now? Makes no sense
Gotta think of the shareholders…
About we all stood up and sorted these fat cats out.
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