This includes the standing charge and price for each kilowatt hour of electricity and gas.
The amount you pay will also depend on your energy usage, where you live and how you pay such as through prepayment or direct debit. The cap doesn't apply if you are on a fixed rate tariff but you will fall onto a provider's default deal once your contract ends and if you don't switch.Ofgem sets the price cap twice a year for a six-month period each.
The energy regulator announced in August that the price cap would rise by £139 from October 1 to £1,277 - the highest since the capA further 4million households with pre-payment meters will see their bills jump by £153 - from £1,156 to £1,309.Since launching, the cap has dropped three times and increases were announced in April 2019, February 2021 and August 2021.There are usually no prizes for loyalty when it comes to energy bills.
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