Energy price cap for consumers on default tariffs comes into force
Ofgem’s energy price cap for consumers on default tariffs has come into force on the 1’st of January and is expected to save around 11 million people an average of £76 a year, a recent news report has been able to suggest.
The cap limits the cost of each energy unit rather than total bills, meaning energy-intensive users will continue to pay more than those with lower consumption.
The cost of electricity is capped at 17p per kWh, with gas being capped at 4p per kWh – this means a dual fuel customer using energy at typical levels and paying through direct debit is expected to spend a maximum of £1,137 a year.
The energy regulator says the cap will be reviewed and adjusted twice a year to make sure it is fair and effective to all customers.
Despite the cap, a number of consumer groups have claimed customers should continue to shop around and improve the efficiency of their homes to save the most money possible.
HeatingSave – helping you save energy and money
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HeatingSave is also approved to work and save fuel within the Energy Technology List, which is managed by the Carbon Trust on behalf of the Government. It is also approved by the Department of Energy & Climate Change and the Energy Savings Trust and was specified by the Building Research Establishment for the energy efficient homes retro-fit program, called The Greenhouse Project.
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