The energy regulator Ofgem has announced that the energy price cap will see energy prices fall from 1 April.
A typical annual bill will drop by £238 to £1,690 (a 12.3% fall from £1,928), for customers paying for dual fuel by Direct Debit. This is welcome news but still much higher than pre-crisis, when a typical bill during the summer of 2021 was around £1,138.
It’s important to remember that the price cap is not a cap on the total bill, so the more you use, the more you’ll pay.
It was even better news for those on Pre-Payment Meters (pay-as-you-go). From April, they will no longer be paying a higher standing charge, saving around £49/year. This means that there is no longer a premium when it comes to pay-as-you-go.
However, customers should be aware that whilst the unit rates are falling, standing charges (the fixed costs that pay) are set to increase for all payment types except those on pre-pay meters, although this is subject to a current consultation.
At Act on Energy, we have a freephone advice line for anyone struggling with their energy bills. If you live in Worcestershire, Warwickshire or within the West Midlands Combined Authority, we’re here to help you. Our experts will help you with all your energy queries – including funding schemes towards energy and water bills and debts as well as applications for pre-payment fuel vouchers. We will also help with energy efficiency advice and investigate grant funding for home energy efficiency improvements; because the cheapest energy is the energy that you don’t use.
May 20, 2024
May 20, 2024
Energy efficiency grants are vital for homeowners looking to reduce energy bills and improve their homes' sustainability. In the UK, numerous schemes are available to help residents enhance their energy efficiency, particularly in the West Midlands.
