{"id":44110,"date":"2023-11-23T07:58:58","date_gmt":"2023-11-23T07:58:58","guid":{"rendered":"https:\/\/lethal-industry.com\/?p=44110"},"modified":"2023-11-23T07:58:58","modified_gmt":"2023-11-23T07:58:58","slug":"millions-to-pay-more-for-energy-bills-in-january-as-ofgem-raises-price-cap","status":"publish","type":"post","link":"https:\/\/lethal-industry.com\/world-news\/millions-to-pay-more-for-energy-bills-in-january-as-ofgem-raises-price-cap\/","title":{"rendered":"Millions to pay more for energy bills in January as Ofgem raises price cap"},"content":{"rendered":"

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Millions of households are due to see their energy bills rise again in January after Ofgem announced a new increase in the price cap.<\/p>\n

The energy price cap will increase by five percent from the current \u00a31,834 to \u00a31,928 from January 1 for a typical dual fuel household in England, Wales and Scotland.<\/p>\n

Ofgem said the increase of \u00a394 over the course of a year – around \u00a37.83 a month – was driven almost entirely by rising costs in the international wholesale energy market due to market instability and global events, particularly the conflict in Ukraine.<\/p>\n

Jonathan Brearley, chief executive at Ofgem said: “This is a difficult time for many people and any increase in bills will be worrying. But this rise – around the levels we saw in August – is a result of the wholesale cost of gas and electricity rising, which needs to be reflected in the price that we all pay.<\/p>\n

“It is important that customers are supported and we have made clear to suppliers that we expect them to identify and offer help to those who are struggling with bills.<\/p>\n

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“We are also seeing the return of choice to the market, which is a positive sign, and customers could benefit from shopping around with a range of tariffs now available offering the security of a fixed rate or a more flexible deal that tracks below the price cap.<\/p>\n

“People should weigh up all the information, seek independent advice from trusted sources and consider what is most important for them, whether that’s the lowest price or the security of a fixed deal.”<\/p>\n

The energy price cap sets a limit on the maximum amount suppliers can charge households in England, Wales and Scotland for each unit of gas and electricity. Energy in Northern Ireland is regulated separately.<\/p>\n

The headline price cap figure is an average across households rather than an absolute cap on bills, so those who use more will pay more.<\/p>\n

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Richard Neudegg, director of regulation at Uswitch.com,said the rate increase will bite during the coldest period of the year when households need to use the most energy.<\/p>\n

He said: \u201cEnergy bills are likely to be the highest they\u2019ve ever been for most homes this winter. Between January and March, average bills will be \u00a346 more expensive than the same period last year when the Government\u2019s Energy Bill Support Scheme was in place.<\/p>\n

\u201cWith bills so high, it\u2019s important to ensure you are only using and paying for the gas and electricity you need. Tracking your usage can help uncover simple ways to save energy, such as lowering wash temperatures or changing your cooking methods.”<\/p>\n

Mr Neudegg urged those who are struggling to make payments not to bury their head in the sand. He said: “Get in touch with your provider as soon as you can. They should be able to advise on payment plans, as well as any support schemes or grants you may be eligible for.<\/p>\n