This blog is from 2021. From 1 July 2023, energy prices are being set by Ofgem’s price cap. Annual energy bills for a typical household will be around £2,074, down from £2,500. Read more here.
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From 1 October, Ofgem increased the energy price cap by £139 a year. This increase will affect 15 million people across Great Britain.
The energy price cap limits how much suppliers can charge domestic customers for gas and electricity. It will be reviewed by Ofgem in April 2022.
As an energy consumer, unless your energy supply is currently on a fixed tariff, your energy costs will now be more expensive.
You can read more about the background to the issue and the action the UK Government is taking here.
While you may be concerned about the price increase and the impact it may have on your ability to pay your bills, there is help available.
First, check whether you are eligible for the Warm Home Discount Scheme, which offers a one-off payment to help meet heating costs. Additional help, including energy saving advice and potential sources of financial assistance, is available where you live:
- In England, go to Simple Energy Advice.
- In Scotland, check out Home Energy Scotland,
- In Wales, check out Nest.
- In Northern Ireland, contact NISEP and the Energy Advice Line.
You can find more advice and information our saving energy at home webpages and Citizens Advice’s energy supply webpages.
If your energy supplier closes, you don’t need to do anything. You will still receive your gas and electricity as usual. Ofgem, the energy regulator, will move your account to a new supplier. They will let you know which one this is. If you’re a Bulb customer, or want to find out more, read this information from Citizens Advice.