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Version 66 | Version 67 |
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What is the energy price cap and what will happen to bills? | |
(about 11 hours later) | |
The government has reduced the amount of help it will offer households with their energy bills. | |
There are warnings bills could now rise sharply in April. | |
How is help with energy bills changing? | How is help with energy bills changing? |
The government previously said households using a typical amount of gas and electricity would pay £2,500 annually. | |
It said this "energy price guarantee" would last for two years. | |
However, it will now end in April 2023. So, only this winter's bills will be covered by the policy. | |
What Jeremy Hunt's statement means for you | What Jeremy Hunt's statement means for you |
How much will I pay after April? | |
What happens to bills after April will depend in part on a government review. It says this will prioritise those most in need. | |
For households that do not receive any further support, a typical annual energy bill could be £4,347 in the spring, according to analysts Cornwall Insight. | |
However, this depends on changes to the prices domestic energy suppliers pay for oil and gas. | |
Do I live in a typical household? | |
The £2,500 price for a typical household is based on a direct debit customer using 12,000 kWh (kilowatt hours) of gas and 2,900 kWh of electricity a year. A kilowatt hour is a unit of energy used to calculate your bill. | |
However, most households aren't typical, and your bill depends on how much energy you actually use. | However, most households aren't typical, and your bill depends on how much energy you actually use. |
Things like the number of occupants, the type of property and how energy efficient it is all make a difference. | Things like the number of occupants, the type of property and how energy efficient it is all make a difference. |
The price guarantee applies to all households in England, Scotland and Wales, with the "same level of support" available in Northern Ireland. | The price guarantee applies to all households in England, Scotland and Wales, with the "same level of support" available in Northern Ireland. |
What help will businesses get with bills? | What help will businesses get with bills? |
Business customers were only ever promised help for six months, with a review to decide what to do after that. The government says any subsequent help will be "targeted to those most affected". | |
Under the energy bill relief scheme: | |
businesses are given a discount based on a "government supported price" of 21.1p per kWh for electricity and 7.5p per KWh for gas | |
the government says this is less than half the wholesale prices expected this winter | the government says this is less than half the wholesale prices expected this winter |
organisations on fixed price contracts will be eligible if their deal started after 1 April 2022 | organisations on fixed price contracts will be eligible if their deal started after 1 April 2022 |
those on variable tariffs will receive an automatic discount for each unit of energy used | those on variable tariffs will receive an automatic discount for each unit of energy used |
the savings will begin to appear in November's bills (backdated to October) and will be applied automatically | the savings will begin to appear in November's bills (backdated to October) and will be applied automatically |
a review will be published in three months' time to identify "vulnerable" organisations needing support after March 2023 | a review will be published in three months' time to identify "vulnerable" organisations needing support after March 2023 |
The scheme will apply to all non-domestic energy customers in England, Scotland and Wales, with a parallel scheme in Northern Ireland. | The scheme will apply to all non-domestic energy customers in England, Scotland and Wales, with a parallel scheme in Northern Ireland. |
Why have energy prices gone up? | Why have energy prices gone up? |
Energy costs have soared because the conflict in Ukraine has reduced supplies of Russian gas. | |
Prices also rose because demand for energy has rocketed since Covid restrictions ended. | |
What other help can I get with my bills? | What other help can I get with my bills? |
All households are automatically getting a one-off £400 discount on their fuel bills from October. | |
Eight million low-income households who receive certain benefits or tax credits are receiving £650 in two payments. | Eight million low-income households who receive certain benefits or tax credits are receiving £650 in two payments. |
Pensioner households will get £300 and some disabled people will be paid £150. | Pensioner households will get £300 and some disabled people will be paid £150. |
This help is being partly funded by a temporary windfall tax on oil and gas companies. | This help is being partly funded by a temporary windfall tax on oil and gas companies. |
In addition, vulnerable families can claim help through the Household Support Fund, and the Warm Home Discount scheme. | In addition, vulnerable families can claim help through the Household Support Fund, and the Warm Home Discount scheme. |
Energy companies also run hardship funds, although the regulator Ofgem warned that most firms need to do do more to help customers who are struggling. | Energy companies also run hardship funds, although the regulator Ofgem warned that most firms need to do do more to help customers who are struggling. |
What can I do if I can't pay my energy bill? | What can I do if I can't pay my energy bill? |
Ofgem: Getting help if you can't afford your energy bills | Ofgem: Getting help if you can't afford your energy bills |
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