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GOVT PRICE CAP UPDATE


The #energy regulatory body #Ofgem announced their revised Price Cap for 1st April to 30th June. The new threshold has dropped to £3,280 for a household with typical annual consumption.


To support customers during a time of energy price uncertainty, the #Government’s Energy #Price #Guarantee will remain in place until #March #2024 to ensure bills for the average consumer remain manageable.


On 15th March 2023 the Government confirmed that the Energy Price Guarantee (EPG) will be kept at £2,500 for an additional three months from #April-23 to #June-23, saving a typical household £160.


The £400 #EBSS payment will also be coming to an end in March 2023 with all customers receiving the final £67.


Ofgem will review the #Price #Cap again with a new Tariff Cap to be set from 1st July to reflect the wholesale cost of energy, so suppliers do not charge too much or too little for each unit of gas and #electricity.

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