Ofgem’s energy price cap limits the quantity suppliers can charge for every unit of gas and electricity, in addition to the standing charge they set for every fuel.
Energy bills are set rise to a mean of £2,500 a 12 months from £1,971 on October 1 which is the typical price a household with typical usage can pay.
Nonetheless, people could pay greater than this in the event that they are high users, and people who switched to an expensive fixed rate tariff before Liz Truss’ announcement last week, may find yourself paying much more as a consequence of the way in which the discount is applied.
While energy bills are around thrice higher than this time last 12 months, capping bills at £2,500 will save people £1,000 on average.
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