• Latest
  • Trending
  • All

Energy prices expected to rise under new price cap

August 23, 2024

Lionel Messi: Argentina captain explains tears after Argentina goal were ‘unrelated to football’

June 19, 2026

What Iran and US get from deal and why both could struggle to keep it

June 19, 2026

In Trump's shadow, Vance becomes face of Iran deal

June 19, 2026

Can we grow a third set of teeth?

June 19, 2026

Scottish Conservatives win first Westminster by-election in more than 50 years

June 19, 2026

Who should pay on the first date

June 19, 2026

MP Cameron Thomas suspended amid police investigation

June 19, 2026

The artificial ice pyramids saving India's mountain villages

June 19, 2026

Ben Stokes: England captain could return for third Test against New Zealand

June 18, 2026

Interest rates held as Bank warns of impact of high energy prices

June 18, 2026

How is this Iran deal different from others?

June 18, 2026

Weekly quiz: How many SpaceX employees just became millionaires?

June 18, 2026
News
  • Login
  • Home
  • News
  • Sports
  • Worklife
  • Travel
  • Reel
  • Future
  • More
Friday, June 19, 2026
No Result
View All Result

NEWS

3 °c
London
8 ° Wed
9 ° Thu
11 ° Fri
13 ° Sat
  • Home
  • Video
  • World
    • All
    • Africa
    • Asia
    • Australia
    • Europe
    • Latin America
    • Middle East
    • US & Canada

    Lionel Messi: Argentina captain explains tears after Argentina goal were ‘unrelated to football’

    What Iran and US get from deal and why both could struggle to keep it

    In Trump's shadow, Vance becomes face of Iran deal

    Bird flu kills more than 75% of baby seals on remote Australian island, study finds

    British man dies in paragliding accident in Spain

    Gunfire and explosions heard at Niger capital's airport

    Japan ramping up defence is ‘critical’ to prevent war, Defence Minister Koizumi tells BBC

    Moscow hit by largest Ukrainian attack since start of Russia's full-scale war

    Suspected gang leader shot dead in flower bouquet ambush at airport

  • UK
    • All
    • England
    • N. Ireland
    • Politics
    • Scotland
    • Wales

    MP Cameron Thomas suspended amid police investigation

    Ben Stokes: England captain could return for third Test against New Zealand

    Man arrested on suspicion of attempted murder after boy injured in crocodile enclosure

    TRNSMT 2026: Full line-up and stage times for the weekend

    Gasps and tears in court as 10 more sentenced over Ely riots

    ‘Inappropriate’ social media posts about inquest passed to Attorney General

    Streeting is prepared to trigger leadership race

    Ancient 'Robin Hood' tree is dead, experts say

    BBC announces 550 job cuts as first part of £500m savings plan

  • Business
    • All
    • Companies
    • Connected World
    • Economy
    • Entrepreneurship
    • Global Trade
    • Technology of Business

    Who should pay on the first date

    Interest rates held as Bank warns of impact of high energy prices

    Apple to raise prices due to memory chip costs

    Thames Water moves step closer to nationalisation after government objects to rescue deal

    Fed holds US interest rates steady as uncertainty over Trump's Iran deal remains

    SpaceX overtakes Amazon to become world’s fifth most valuable firm

    Struggling Pizza Hut chain to be sold for $2.7bn

    Money Box – Renting in Retirement and Wildlife Bank Notes

    What is Helium-3 and could we get it from the moon?

  • Tech
  • Entertainment & Arts

    Meghan hits red carpet at Power of Women in Hollywood

    Margot Robbie unable to speak at Saltburn premiere

    Barbra Streisand: Siri can now pronounce my name

    Wes Anderson’s The Grand Budapest Hotel inspires cinema’s look

    Taylor Swift/ Travis Kelce romance reaches White House

    The Killers booed at Georgia concert after inviting Russian fan on stage

    Watch: Memorable moments from Parkinson's star-studded show

    Tom Jones: Neighbour surprised to find singer in flat below

    Black Country Folk Festival showcases local musicians

    Watch: Australians set new world record with Tina Turner dance

  • Science
  • Health
  • In Pictures
  • Reality Check
  • Have your say
  • More
    • Newsbeat
    • Long Reads

NEWS

No Result
View All Result
Home Business

Energy prices expected to rise under new price cap

August 23, 2024
in Business
6 min read
251 2
0
493
SHARES
1.4k
VIEWS
Share on FacebookShare on Twitter


Getty Images Woman in thick jumper sits by a radiator holding a mug and an energy bill.Getty Images

Billpayers are expected to face a sharp rise in household energy prices after Ofgem announces its new price cap later.

The energy regulator will officially confirm the cap on default tariffs for the three months from October at 07:00 BST.

It is likely to announce a rise of about 9%, or £150, on the annual bill of a household using a typical amount of gas and electricity.

The cap affects the price paid for each unit of gas and electricity used in 28 million homes in England, Wales and Scotland.

Energy prices governed by the price cap have fallen twice this year – in April and July – but are set to move back up towards last autumn’s level in October.

Consultancy Cornwall Insight, which is widely regarded for its accurate predictions, said it expected a household using a typical amount of gas and electricity would pay £1,714 a year from October.

That would be a £146 a year rise compared with a current typical annual bill – the lowest for two years – of £1,568.

Bar chart showing how the energy price cap has changed since early 2021, with the new prediction of £1,714 added

While prices are much lower than their peak, they remain well above pre-pandemic levels, and financial support from the government has either been wound down or is being cut.

The final cost-of-living payment was made to eight million people on means-tested benefits in February, and the new government has announced it will halt winter fuel payments for 10 million pensioners in England and Wales this autumn. The payment is a devolved matter in Scotland and Northern Ireland.

Some households are already in debt to their supplier and now face increased prices in the run up to winter.

Dame Clare Moriarty, chief executive of Citizens Advice, said the charity was bracing itself for a “challenging winter”.

“The price cap increase will see a wave of households tipped into debt, billpayers forced to make impossible decisions to make ends meet, and families worried about the impact the cold will have on their loved ones,” she said.

“Energy prices might be down from the peak of the crisis, but with many already in the red and the removal of previous support packages, there’s still no light at the end of the tunnel for those in desperate need.”

Standing charges under review

Although the price cap is changed every three months, it is illustrated by Ofgem in terms of an annual bill for a household using a typical amount of gas and electricity.

People in larger properties will tend to pay more overall due to higher energy usage, while those in smaller properties likely use less so pay less.

Standing charges, a fixed daily fee covering the costs of connecting to a supply, currently stand at at 60p a day for electricity and 31p a day for gas, although they vary by region.

Ofgem is currently considering whether to change the standing charge billing system.

Tackling it Together strapline

How some pensioners can claim support

An estimated 880,000 low-income pensioner households eligible for pension credit currently fail to claim it.

The government says it is worth an average of £3,900 a year and claiming it can qualify people for other financial support such as winter fuel payments.

You can check your eligibility for pension credit via the government’s online calculator.

Information is also available on how to make a claim. There is also a phone line available on weekdays – 0800 99 1234.

Guide to benefits, when you qualify and what to do if something goes wrong, are provided by the independent MoneyHelper website, backed by government.

Benefits calculators are also run by Policy in Practice, and charities Entitledto, and Turn2us.



Source link

Tags: capenergyexpectedpricepricesrise

Related Posts

Who should pay on the first date

June 19, 2026
0

Ask a group of friends and you'll likely get a dozen different answers. Some insist the bill should always...

Interest rates held as Bank warns of impact of high energy prices

June 18, 2026
0

The Bank last cut interest rates in December but upheaval in the Middle East has stalled any further reductions....

Apple to raise prices due to memory chip costs

June 18, 2026
0

The firm's outgoing boss Tim Cook did not say when prices will rise or which products will be affected....

  • Lee McGregor: Scot seeks world title in 2025 & Nathaniel Collins bout

    677 shares
    Share 271 Tweet 169
  • Belgian footballer arrested in cocaine investigation

    533 shares
    Share 213 Tweet 133
  • Next to raise prices to help pay for rising wage costs

    531 shares
    Share 212 Tweet 133
  • South Wales Police officers injured, one arrested

    525 shares
    Share 210 Tweet 131
  • Charities to get £15m fund to save surplus farm food

    516 shares
    Share 206 Tweet 129
  • Trending
  • Comments
  • Latest

Lee McGregor: Scot seeks world title in 2025 & Nathaniel Collins bout

January 16, 2025

Belgian footballer arrested in cocaine investigation

January 27, 2025

Next to raise prices to help pay for rising wage costs

January 7, 2025

World Cup 2022: TikTok brings football fever to millions of fans

0

UK economy will get worse before it gets better, warns chancellor

0

One of Central America’s most active volcanoes erupts again

0

Lionel Messi: Argentina captain explains tears after Argentina goal were ‘unrelated to football’

June 19, 2026

What Iran and US get from deal and why both could struggle to keep it

June 19, 2026

In Trump's shadow, Vance becomes face of Iran deal

June 19, 2026

Categories

Latin America

Lionel Messi: Argentina captain explains tears after Argentina goal were ‘unrelated to football’

June 19, 2026
0

Lionel Messi says he was brought to tears after scoring the opening goal in Argentina's 3-0 win against Algeria...

Read more

What Iran and US get from deal and why both could struggle to keep it

June 19, 2026
News

© 2023 GODJ - NEWS CORP - news.godj.com.

Explore NEWS.GODJ.COM

  • Home
  • News
  • Sports
  • Worklife
  • Travel
  • Reel
  • Future
  • More

Follow Us

  • Home Main
  • Video
  • World
  • Top News
  • Business
  • Sport
  • Tech
  • UK
  • In Pictures
  • Health
  • Reality Check
  • Science
  • Entertainment & Arts
  • Login

© 2023 GODJ - NEWS CORP - news.godj.com.

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.