2024-08-19 https://www.thisismoney.co.uk/money/bills/article-13756889/Energy-bills-rise-9-October-experts-warn-just-homes-need-heating-on.html HaiPress
Energy bills will rise 9 per cent in October,experts warn - just as households need to turn their central heating on.
The average home now pays energy bills of £1,568 a year,for a deal with prices limited by the Ofgem price cap.
But this could rise by 9 per cent - or £146 - to £1,714 a year in October,according to experts at Cornwall Insight.
Cornwall Insight has a good track record of predicting changes to the price cap. Ofgem will officially announce changes to the October price cap on Friday 23 August.
Breakdown: The electricity standing charge pays for things like customer service,and the cost of running the power network and operating meters
The 9 per cent increase is an average,and how much your bill will change depends on how much energy you use.
Additionally,the change only applies to households with energy bills regulated by the Ofgem price cap.
Energy regulator Ofgem's price cap limits how much households on variable rate gas and electricity deals can be charged.
Ofgem caps the unit rates (the price paid for energy used) and standing charges (daily fees paid regardless of how much energy is consumed).
The Ofgem price cap is set four times a year.
Cornwall Insight said there would be a 'further modest increase' to energy bills when the price cap changes again in January 2025.
5.09% on cash for Isa investors
Learn More
Learn More
Includes 0.88% bonus for one year
Learn More
Learn More
No account fee and free share dealing
Learn More
Learn More
Flexible Isa that now accepts transfers
Learn More
Learn More
Get £200 back in trading fees
Learn More
Learn More
Affiliate links: If you take out a product This is Money may earn a commission. These deals are chosen by our editorial team,as we think they are worth highlighting. This does not affect our editorial independence.
Tuya Smart Showcases Popular AI Innovations at CES 2025, Defining a New Standard for Future Smart Living
Sciwind Biosciences Announces Global Licensing and Collaboration Agreement for Metabolic Disease Portfolio
Trina Storage Retains Top Rank in BloombergNEF's 2024 Global Storage Providers and Integrators Bankability Survey
BEST Inc. Receives Notification from NYSE Regarding Delayed Filing of Semi-Annual Financial Information for the Half Year Ended June 30, 2024
Tuya Smart Hosts Successful 'Tuya Developer Day' During CES 2025, Leading Industry Change with Innovative AI Technology
"Knowledge Capital 'Super' Future Conference" Held in Umekita Area, Osaka with DNA of Learning, Knowledge, and Innovation to Celebrate Knowledge Capital's 12th Year of Operation
©copyright2009-2020Fresh life