Octopus Energy is reducing its standing charge for those on its variable tariff by 4% to provide additional support for consumers ahead of energy bills jumping in October.
Following the official announcement of the energy bills freeze over the coming winter by Prime Minister Liz Truss on Thursday 8 September, the government has released the first details of how exactly it will work.
The price cap is to be set at £2,500 for two years from October onwards, Prime Minister Liz Truss has announced as part of a range of measures designed to address the energy crisis.
Cornwall Insight has released its final predictions for October’s Default Tariff Cap showing that a typical household will be paying £3,554 equivalent per year for their energy bills.
Cornwall Insight has again raised its prediction for the upcoming price cap periods, with a typical household now expected to pay £4,266 a year for the three months to March 2023.
The price cap could pass £4,200 come January following a number of changes made by the regulator Ofgem, according to analysis from Investec’s Martin Young.
The Default Tariff Cap is now predicted to stay above £3,000 a year for the next 15 months, according to the most recent forecast from Cornwall Insight.
