03/02/2022
The price cap has been announced to rise by 54%, as of 1st April 2022. For an average domestic customer this is an increase from £1277 to £1971 per year. What does this mean for you?
1. Domestic (on a default tariff) – For an average domestic customer paying by direct debit, as of 1st April 2022, your yearly costs for gas and electricity will increase by around £700*.
* This is based on average dual fuel usage in the UK (for a 2/3-bedroom home). Whilst the unit price is capped, the total cost is not… if you consume more energy, your yearly cost will also increase relatively.
2. Domestic (On a fixed tariff) – This does not currently apply to you. When your fixed contract ends, this will apply if you do not agree a new, fixed deal.
3. Commercial – No Government price cap applies to you. If you are not on a fixed tariff, suppliers can charge their standard rates which could be 200-300% higher.
Get in touch with us if you would like further, tailored advice on this.
[email protected] / 020 8458 5816
