In recent years, the cost of variable tariff energy deals in England, Wales and Scotland has been controlled by the energy price cap, which is now set every three months by Ofgem, the energy regulator.
In recent years, the cost of variable tariff energy deals in England, Wales and Scotland has been controlled by the energy price cap, which is now set every three months by Ofgem, the energy regulator.
Energy prices soared after Russia’s invasion of Ukraine in February 2022, so in October ministers said household bills would be limited by a temporary government guarantee instead.
Under this, a typical household’s annual gas and electricity bill stayed below £2,500 despite Ofgem’s cap increasing above this level.
The Energy Price Guarantee finished in June 2023, and the Ofgem cap once again determines how much customers can be charged.
Between October and December, Ofgem said typical bills will be £1,923, which is £151 less than the previous cap and £577 down on last winter.
The regulator changed its estimate for how much gas and electricity is used by a typical household and has now recalculated the cap to £1,834.
In recent years, the cost of variable tariff energy deals in England, Wales and Scotland has been controlled by the energy price cap, which is now set every three months by Ofgem, the energy regulator.
Energy prices soared after Russia’s invasion of Ukraine in February 2022, so in October ministers said household bills would be limited by a temporary government guarantee instead.
In recent years, the cost of variable tariff energy deals in England, Wales and Scotland has been controlled by the energy price cap, which is now set every three months by Ofgem, the energy regulator.
In recent years, the cost of variable tariff energy deals in England, Wales and Scotland has been controlled by the energy price cap, which is now set every three months by Ofgem, the energy regulator.
Energy prices soared after Russia’s invasion of Ukraine in February 2022, so in October ministers said household bills would be limited by a temporary government guarantee instead.
Under this, a typical household’s annual gas and electricity bill stayed below £2,500 despite Ofgem’s cap increasing above this level.
The Energy Price Guarantee finished in June 2023, and the Ofgem cap once again determines how much customers can be charged.
Between October and December, Ofgem said typical bills will be £1,923, which is £151 less than the previous cap and £577 down on last winter.
The regulator changed its estimate for how much gas and electricity is used by a typical household and has now recalculated the cap to £1,834.
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