Millions of people already struggling with the cost of living crisis will face further pressures from today as energy bills are set to rise by £149. Energy bills will rise by £149 for the average household from today after Ofgem announced it would be raising its energy price cap. The new price cap figure is £1,717, up from £1,568 previously.
The cap does not set the maximum a household will pay for their energy but limits the amount providers can charge them per unit of gas or electricity, so those who use more energy will pay more. Jonathan Brearley, chief executive of Ofgem, said: “We know that this rise in the price cap is going to be extremely difficult for many households. “Anyone who is struggling to pay their bill should make sure they have access to all the benefits they are entitled to, particularly pension credit, and contact their energy company for further help and support.
” To help combat the rise, consumer experts Which? are advising people to check whether there are steps they can take to soften the blow. Should you fix your energy bill? As a first step, the consumer champion recommends checking energy bills to see if there are savings to be had. While you’re unlikely to save a huge sum by switching provider or tariff, consider paperless bills and paying by direct debit if you haven’t already.
You could save over £50 per year by switching to one of the cheapest deals on offer (based on a typical household) compared with the price cap. If you want.
