Energy Pricing Cap Announced: Major Increase Due to Ofgem’s Alert
The upcoming energy pricing cap marks a significant escalation, as Ofgem has announced a flat increase from the previously referenced range of £1,720 to £1,755. This caps the maximum price suppliers can charge consumers.
households primarily paying by direct debit, prepayment, or an economy 7 (e7) meter will face an incremental rise of 2%. A standard tariff household is expected to pay an extra £2.93 per month. Meanwhile, those adopting a fixed-rate billingwithout prior agreement are less affected.
The energy price cap is a statutory measure aimed at maintaining a resilient energy market. <> households already in fixed tariffs or paying more than £105 per month with non-lines will benefit to reduce their monthly costs.
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