26/09/2022
There is a lot of confusion over the energy price cap and price guarantee, with many people not realising how much their energy bill will really be.
New research from Uswitch has found that 40% of households wrongly believe their bill cannot exceed £2,500.
From 1 October, a cap has been placed on energy costs known as the energy price guarantee. Most people will see their bill go up unless you are already on a Fixed rate for energy .Well done, your energy rate will stay the same until your fixed rate ends
The government is subsidising energy bills and limiting the unit rates that can be charged.
A figure of £2,500 has been given as an average amount a household can expect to pay.
Trouble is, people have heard this figure and believe that is the maximum theyāll pay ā that thatās not the case.
The Ā£2,500 figure is an illustration of what an āaverageā household might pay if they use a ātypicalā amount of energy over a year.
A typical medium household has been calculated as using Typical Domestic Consumption
Values from Ofgem:
12,000 kWh of gas
2,900 kWh of electric
= £2,500 a year in energy bills
The Ā£2,500 mentioned is therefore not a fixed upper limit or the maximum youāll pay.
If you use more energy, you will pay MORE than £2,500 and will see even higher bills.
It will obviously be higher than last year. It could even now be double what you paid last year .
Do you know what you will be paying after 1st October with new higher Energy price cap ?
Let me help you through this confusion š
If you donāt understand your bill , call or message me, I can help you. The company I am partnered with can offer a rate lower than the price cap . We have other ways to help you pay less so let me show you . Itās always good to look at options isnāt it ?