Summary
Energy bills in England, Scotland, and Wales have risen slightly due to an increase in Ofgem's price cap. This small adjustment means households with a typical amount of energy usage will see an annual increase of around £3. The cost is expected to decrease in April as announced changes in the Budget take effect.
Key Facts
- Ofgem increased the energy price cap slightly, causing a 0.2% rise in energy bills.
- The typical household will see an annual bill rise from £1,755 to £1,758.
- Standing charges for electricity and gas have also increased by 2% and 3%, respectively.
- The price cap applies to England, Wales, and Scotland. Northern Ireland is regulated separately.
- Households can potentially reduce bills by switching to a fixed tariff with lower rates.
- Some areas have cold weather payments of £25 a week if temperatures fall to 0°C or below for seven consecutive days.
- The government extended the £150 Warm Home Discount to more low-income households.
