New energy price cap starting April 1st
New energy price cap starting April 1st Mar 29, 2022
This Friday the new energy price cap rise announced by Ofgem will be put into effect.
The price cap will rise from £1,277 - £1,971 which is a total increase of 54%, it is also estimated to affect around 22 million customers.
This means that inflation has reached a 30 year high of 6.2% which will put many householders at risk of fuel poverty.
In order to deal with the increase, Chancellor Rishi Sumak has released a £150 house rebate in February as well as a £200 loan.
There are other ways to help lessen the impact of the price cap as well, such as shopping around for new energy providers.
If you have been with your usual energy provider for a while then you will most likely be on a ‘standard variable tariff’ which means the price will change in line with the latest fluctuations.
Therefore the best idea is to look into suppliers who can provide cheaper tariffs and discounted rates to new customers.
You can also reduce the price caps effect by saving money on your energy bills, we have many different schemes available to help you with the installation of energy efficiency measures such as insulation and new boilers.
We even have a video library with all the information you need on the best tips and tricks to cut down on your energy bills.