Household energy bills will increase by 10 per cent from the current £1,568 to £1,717 from October 1, 2024. Ofgem has announced household energy bills will rise by 10 per cent from the start of October. The sector regulator confirmed on Friday morning that annual energy bills for millions of households on the standard tariff, with typical average usage, will rise from £1,568 to £1,717 from October 1 - an increase of £149 over the coming year.
It’s crucial to remember that the price cap does not limit a household's total bills, people still pay for each unit of gas and electricity they use. The more energy you use, the higher the bill, similarly, the less you use, the lower the bill. The daily standing charge for electricity will rise slightly to 60.
99 pence (24.50 pence per kWh), as will the daily standing charge on gas - 31.66 pence (6.
24 pence per kWh). The latest price cap will be in place until December 31, 2024, you can find standing charges and unit rates per region on the Ofgem website here. The new cap is 6 per cent (£117) cheaper compared to the same period last year - £1,834.
You are covered by the energy price cap if you pay for your electricity and gas by either: The new price cap is around £117 cheaper than the cap in October last year, which was set at £1,834. Households will pay around £11 extra each month for gas and electricity usage from October. Ofgem said rising prices in the international energy market, due to heightened political tensions and.