Energy bills to drop from this weekend - but will still be almost double pre-crisis levels
Households will pay less for their gas and electricity from this weekend amid warnings that bills will still be almost double the amount they were before the energy crisis began.
Households have been partly shielded from the most recent rise in prices by the Government’s Energy Price Guarantee , which limited annual energy costs to £2,500 for the average household – subsidising Ofgem’s price cap.Ofgem’s latest cut means its cap will again govern household bills, resulting in a reduction of £426 from £2,500 to £2,074 – a fall of about 17%.
Which? Energy editor Emily Seymour said: “While the new price cap will see typical bills drop by around £500, energy bills will still be almost double the amount they were before the energy crisis began – which will be unaffordable for some households. Ms Seymour added: “Fixed deals are starting to return to the market for existing customers of some suppliers. We wouldn’t recommend fixing anything higher than the unit rates in your current deal or for longer than a year. If you are offered a deal, then it’s really important to check the tariff’s exit fees in case you want to leave that deal early if the price cap comes down.
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