Ofgem, the energy regulator, has today announced that the energy price cap is to rise by £693.The 54% increase, coming into effect in April, will result in energy bills increasing to £1,971 a year and affect around 22 million customers on standard tariffs.In an Ofgem energy price cap press release, Jonathan Brearley, chief executive of
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With the current energy crunch putting a strain on finances for millions of UK households and with the energy price cap announcement due next week, we give you the top 7 things about the energy price cap. What is the energy price cap?The energy price cap sets a maximum daily amount (what you pay) that energy
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Households have been warned that they face an energy bill ‘double whammy’ this year. The expected big rise in April and October, has raised the question, should VAT on gas and electricity be cut? Prices risingIn December, Dame Clare Moriarty, Citizens Advice Chief Executive, said: “Energy customers are facing a multibillion-pound bill, in large part because
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Damming analysis from retail energy advisors, BFY Group has warned that households face a big rise in energy bills in April.The report, commissioned by Citizens Advice concludes that “Ofgem allowed unfit and unsustainable energy companies to trade with little penalty.”Wholesale gas prices may have steadied recently, but with more supplier failures expected, it’s difficult for
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Over four million households are estimated to be living in fuel poverty in the UK and are unable to afford to heat their home to an adequate temperature.The three main fuel poverty contributors to are:Low incomePoorly insulated homesHigh fuel pricesIt is reported that the latest energy price cap from 1st October 2021 will result in
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Bulb Energy, which supplies more than 1.7 million customers, has collapsed and will be the first energy supplier to be placed into the Special Administration Regime (SAR).Rumours have been circulating for a while and the news has been long expected by rival suppliers after it struggled to find a buyer or financial investment. Octopus Energy,
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There are many ways to be more energy-efficient at home and most will cost you nothing. Here are our top free energy saving tips:HeatingCan you turn down your main thermostat by 1°? The recommended temperature is 18°Try a hot water bottle instead of an electric blanket, it’s cheaper and keeps you just as warmKeep extra
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Although there are government-funded energy discounts available to help during the winter months, there is also additional funding for residents, particularly those households most vulnerable and struggling with the rising cost of living.Auriga, based in the West Midlands, work with organisations to support their customers in vulnerable circumstances have partnered with the British Gas Energy Trust to
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We’re still waiting for clarity on any potential government intervention in the energy crunch, as larger energy suppliers take on new customers whose energy supplier has gone out of business. The current number stands at more than 2 million homes, but some of these will not have hedged for the additional customers.It is estimated that
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With natural gas prices rocketing by more than 420%, the UK dealing with too little wind, the IFA-1 electricity cable fire and energy suppliers going out of business, what’s next for the energy industry? The 'energy crunch' will affect millionsFuel poverty is not simply a trending hashtag. Millions of UK households will face a hike in
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