{"id":116989,"date":"2024-08-19T06:45:27","date_gmt":"2024-08-19T06:45:27","guid":{"rendered":"https:\/\/news.talkwithrattan.com\/index.php\/2024\/08\/19\/energy-price-cap-expected-to-rise-by-9-in-october\/"},"modified":"2024-08-19T06:45:27","modified_gmt":"2024-08-19T06:45:27","slug":"energy-price-cap-expected-to-rise-by-9-in-october","status":"publish","type":"post","link":"https:\/\/news.talkwithrattan.com\/index.php\/2024\/08\/19\/energy-price-cap-expected-to-rise-by-9-in-october\/","title":{"rendered":"Energy price cap expected to rise by 9% in October"},"content":{"rendered":"
\"Energy<\/div>


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Domestic energy prices are expected to rise in the run-up to winter, according to consultancy Cornwall Insight.<\/p>\n

The forecaster, which is widely regarded for its accurate predictions, said a household using a typical amount of gas and electricity would pay \u00a31,714 a year from October.<\/p>\n

That compares with a current annual bill of \u00a31,568, the lowest for two years.<\/p>\n

Energy regulator Ofgem will announce the next official quarterly price cap on Friday, with charities concerned about the prospect of prices rising again.<\/p>\n<\/div>\n

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Although the price cap is changed every three months, it is illustrated by Ofgem in terms of an annual bill for a household using a typical amount of gas and electricity.<\/p>\n

People in larger properties will tend to pay more overall owing to higher energy usage, and those in smaller properties will pay less.<\/p>\n

That is because the cap limits the maximum price that can be charged for each unit of gas and electricity, rather than the total bill. <\/p>\n

It affects 28 million households in England, Wales and Scotland. The sector is regulated separately in Northern Ireland. <\/p>\n<\/div>\n

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With prices set to rise, some billpayers might look at the options available to fix their energy tariff.<\/p>\n

Cornwall Insight said that the average saving from the top 10 cheapest tariffs on the market in August was only \u00a35 a year, compared with a default tariff set by the price cap. <\/p>\n

That may change in the coming weeks, and Richard Neudegg, from price comparison website Uswitch, said there were options for those who wanted certainty.<\/p>\n

“Just because it is a fix, it doesn’t mean it is a good price fix,” he said.<\/p>\n

“The question for consumers is, if they want that level of certainty, how cheaply can they get it.”<\/p>\n

Standing charges, a fixed daily fee covering the costs of connecting to a supply, currently stand at at 60p a day for electricity and 31p a day for gas, although they vary by region.<\/p>\n

Ofgem is currently considering whether to change the standing charge billing system.<\/p>\n

Energy bills are considerably lower than the peak after Russia’s invasion of Ukraine, when the government stepped in to limit bill rises, but are much higher than before the pandemic.<\/p>\n<\/div>\n


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Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Domestic energy prices are expected to rise in the run-up to winter, according to consultancy Cornwall Insight. The forecaster, which is widely regarded for its accurate predictions, said a household using a typical amount of gas and electricity would pay \u00a31,714 a year from October. That compares with a current annual bill of \u00a31,568, the […]<\/p>\n","protected":false},"author":2,"featured_media":116990,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"tdm_status":"","tdm_grid_status":"","fifu_image_url":"https:\/\/ichef.bbci.co.uk\/news\/1024\/branded_news\/41da\/live\/1ba00bd0-5bd5-11ef-b2d2-cdb23d5d7c5b.jpg","fifu_image_alt":"","footnotes":""},"categories":[604],"tags":[3962,2988,1504,7643,1718,572],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/116989"}],"collection":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/comments?post=116989"}],"version-history":[{"count":1,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/116989\/revisions"}],"predecessor-version":[{"id":116991,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/116989\/revisions\/116991"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/media\/116990"}],"wp:attachment":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/media?parent=116989"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/categories?post=116989"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/tags?post=116989"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}