People are only just realising energy bills are NOT capped at £2,500 - how the price guarantee works
Below, we explain what the changes mean for you, and how much you might expect to pay depending on the type of home you live in.What is the energy price cap?
But the energy price guarantee replaces this - and bills will be frozen at £2,500 for the typical household. The price cap affects millions of people on default or standard tariffs offered by the country's energy providers, according to Ofgem estimations. The price cap was originally set up in January 2019 by Ofgem, in a bid to limit how much providers can charge on default energy bills to spare Brits from being unfairly charged.What does the price guarantee mean for you?.Those in detached homes' average yearly bills will be £3,300, while semi-detached homeowners will see theirs reach £2,650.
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