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What is the energy price cap and how high will bills go? | What is the energy price cap and how high will bills go? |
(12 days later) | |
UK households will find out how much their bills will increase when a new energy price cap is announced on Friday. | |
The average annual household bill for gas and electricity could go on to reach £4,650 in January, according to analysts Cornwall Insight. | |
Plans to cut bills for some households using less power at peak times will be announced soon. | |
What is the energy price cap? | |
The price cap is the maximum price suppliers can charge households for each unit of energy they use. It is set by Ofgem, the energy regulator. | |
In April it was raised by an unprecedented 54% - meaning a household using a typical amount of gas and electricity would pay £1,971 per year. | |
If you use a lot of energy compared with others, your bill will be higher than the average price cap figure. If you use less, it will be lower. | |
Ofgem will now adjust the cap every three months, based on how much energy suppliers are paying the firms which produce electricity and gas. | |
It is in force in England, Scotland and Wales, and is designed to protect consumers from short-term changes. Energy prices in Northern Ireland are governed separately, but they have also risen sharply. | |
How high might bills go? | |
The average annual household bill could go up to £3,554 when the price cap for October is announced, Cornwall Insight says. | |
It expects the average bill to increase again in January, to £4,650. | |
That is £388 a month, rather than the current £164 a month. | |
However, Ofgem has urged people to treat predictions of future price cap levels with "extreme caution". | |
UK inflation could hit 18% next year, experts warn | |
Would it help to use energy off peak and use a smart meter? | |
Plans to enable households to get discounts on electricity bills if they cut use at peak times are set to be announced within a couple of weeks. | |
Those who stop using items like tumble dryers, dishwashers and games consoles between 17:00 and 20:00 could get rebates of up to £6 for every kilowatt hour (kWh) saved, National Grid ESO, which will run the scheme, said. | |
However, it's likely only households with smart meters will qualify, and it typically takes a few weeks to get one installed. | |
The Energy Saving Trust says several small changes could also help. | |
Why is the energy cap being raised so high? | |
Energy prices rose sharply when lockdown was lifted and the economy returned to normal speed. | |
They have also increased because the war in Ukraine has reduced supplies of gas from Russia. | |
Gas and electricity producers have raised their prices so rapidly that many energy suppliers have collapsed. | |
Ofgem has been raising the price cap to try and ensure the remainder stay in business. | |
How Russia is cutting off gas to Europe | How Russia is cutting off gas to Europe |
Can the world cope without Russian oil and gas? | Can the world cope without Russian oil and gas? |
What's the effect on customers? | What's the effect on customers? |
Fuel price rises are expected to pitch many people into fuel poverty. | |
Energy company E.on UK suggests one in eight households are currently struggling to pay their bills, and says 40% may be struggling by October. | |
Rising numbers of people will fall sick and see their health worsen unless the government takes further action to limit energy price rises, the NHS says. | |
The NHS Confederation said many people would have to choose between skipping meals to heat their homes or having to live in cold and damp conditions. | |
Energy bills could go up before October price cap rise | Energy bills could go up before October price cap rise |
What help will I get to pay my energy bills? | |
All UK households will be given a one-off £400 discount on their fuel bills in October. | |
£650 will be paid to more than eight million low-income households who receive benefits or tax credits. | |
There are additional payments of £300 to pensioner households and £150 to individuals receiving disability benefits. | |
Vulnerable families can also claim help through the Household Support Fund, the Warm Home Discount scheme, and hardship funds run by energy companies. | |
How do I get the £400 energy grant and £650 cost-of-living payment? | How do I get the £400 energy grant and £650 cost-of-living payment? |
What happens if I don't pay my energy bills? | |
Your supplier must give you a chance to pay your debt through a payment plan. | Your supplier must give you a chance to pay your debt through a payment plan. |
If you don't agree to this, they may try and make you have a pre-payment meter installed. | |
In extreme cases, you might be threatened with disconnection. | |
What can I do if I can't afford my energy bill? | What can I do if I can't afford my energy bill? |
How are you preparing for the rise in energy bills and cost of living? You can get in touch by emailing: haveyoursay@bbc.co.uk. | How are you preparing for the rise in energy bills and cost of living? You can get in touch by emailing: haveyoursay@bbc.co.uk. |
Please include a contact number if you are willing to speak to a BBC journalist. You can also get in touch in the following ways: | Please include a contact number if you are willing to speak to a BBC journalist. You can also get in touch in the following ways: |
WhatsApp: +44 7756 165803 | WhatsApp: +44 7756 165803 |
Tweet: @BBC_HaveYourSay | Tweet: @BBC_HaveYourSay |
Or fill out the form below | Or fill out the form below |
Please read our terms & conditions and privacy policy | Please read our terms & conditions and privacy policy |
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