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This has been down to a number of combined factors that have wreaked havoc on energy prices.
Read the full article: Ofgem Raises the Price Cap Again: How Can I Save?
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Ofgem's new price cap comes into effect today. As customers on variable tariffs see a rise in their energy bills, we've put together a guide explaining how it will affect you and what help there is available 📈💡
#energypricecap #ofgem selectra.co.uk/energy/news/m…
Although it sounds all doom and gloom, there is a silver lining for energy customers when the price rises in April 2022.
Read the full article: Ofgem Raises the Price Cap Again: How Can I Save?
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The price cap sets a limit on how high a standard variable tariff can rise for customers that is quoted using an average yearly cost.
Read the full article: Ofgem Raises the Price Cap Again: How Can I Save?
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A default fixed tariff would mean that instead of a variable tariff that customers could leave without an exit fee, customers would be committed to a 6-12 tariff fixed to the price cap.
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💡 Ofgem’s Options for Price Cap Reform - mailchi.mp/selectra.co.uk/of…
This can be beneficial for consumers as, like in 2020, those on variable rates enjoyed lower energy costs than those on fixed tariffs.
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The spike in energy prices has caused the cost of energy to rise astronomically putting pressure on suppliers to manage costs.
Read the full article: Ofgem Raises the Price Cap Again: How Can I Save?
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#EnergyCrisis #energybills #gas #electricity
The energy regulator Ofgem has announced a new revision to the price cap for the beginning of April 2022.
Read the full article: Ofgem Raises the Price Cap Again: How Can I Save?
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#EnergyCrisis #energybills #gas #electricity #EnergyPriceCap
This was done in order to combat the catastrophic effects of the ongoing energy crisis and the rising gas prices.
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💷 Why Are My Bills Going Up? Price Rises Explained - eepurl.com/hUC-KP
💷 Why Are My Bills Going Up? Price Rises Explained - mailchi.mp/selectra.co.uk/wh…
Before 2019, energy suppliers had no upper limit on how high they could raise their variable rates, meaning that a customer who was quoted a low price one month, may be impacted by higher rates the following month.
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The rise of wholesale gas prices in international markets has been the main driver for the energy crisis in the UK and Europe.
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The price cap was a mechanism introduced in 2019 as a means of protecting customers from extreme price hikes by their energy provider.
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The entire energy crisis has been due to gas prices rising to unprecedented levels.
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