ENERGY bills will rise for millions of households at the start of next year. The energy regulator Ofgem has confirmed the new price cap, which comes into effect on January 1, 2025. Advertisement 1 The energy price cap has changed significantly over time The average dual fuel bill for those not on a fixed deal will rise from its current rate of £1,717 a year to £1738 The price of electricity will rise from 24.
50p per kWh to 24.86p, Ofgem said. Standing charges, which cover things like maintaining the network and operational costs, will be 31.
65p down from 31.66p a day for gas and from 60.99p to 60.
97 for electricity. The energy regulator said the price a supplier can charge for gas will rise from 6.24p per kWh today, to 6.
34p from January 1. Advertisement Read more on money STORE CHANGE M&S rolls outs huge conveyor belt checkout change at stores -shoppers divided POSTAL PAIN Royal Mail warns stamp prices may rise AGAIN due to £120m Budget hit But bear in mind the exact amount you pay can be higher or lower depending on your usage and how you pay, plus the cap is reviewed every three months. Around 29million households are on standard variable tariffs which are affected by the price cap, according to Ofgem.
Experts at Cornwall Insight had predicted earlier this week that the energy price cap would rise to £1,736 , after previously believing that it would fall slightly. Despite the rise, average bills remain considerably lower than during the peak of the energy crisis, which.
