The new Ofgem price cap explained and how it affects bills

limits the unit cost of gas and electricity and standing charges and, the body that regulates energy suppliers in Great Britain.It was introduced in 2019 as there was concern people were paying too much for their energy.

The price cap is currently reviewed every three months by Ofgem to “reflect changes in underlying costs as well as inflation,” it says.energy price guaranteeThis provided a support rate discount to all households with gas or electricity, bringing it down to around £2,500 per year. However, since July the price cap is now the scheme limiting bills once again. It only applies to variable tariffs and not fixed ones.The new energy cap will mean the average weekly cost for a family to use a

Singapore Singapore Latest News, Singapore Singapore Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Warning energy bills could rise this winter despite Ofgem price cap fallOfgem’s energy price cap does not set an upper limit on actual bills, and households will pay more or less depending on how much energy they use
Source: SunScotNational - 🏆 49. / 63 Read more »

Energy bills could rise despite Ofgem price cap fallOfgem’s energy price cap does not set an upper limit on actual bills, and households will pay more or less depending on how much energy they use
Source: Glasgow_Times - 🏆 76. / 59 Read more »