Energy Price Guarantee

A report from the Energy Security and Net Zero Committee has warned that “action is needed now” to support vulnerable customers this winter.

According to new data released by the UK Government, nearly £40 billion has been spent mitigating the impact of rising energy bills on households and business throughout winter.

Energy regulator Ofgem has confirmed that the energy price cap will tumble to £2,074 from 1 July – the first time in 18 months it has fallen.

Ofgem has revealed that Good Energy and OVO Energy customers have been overcharged by almost £2 million.

Applications have today (26 April) opened for energy and trade intensive sectors to claim up to a 20% discount on their wholesale energy bills.

Cornwall Insight has released its latest Default Tariff cap predictions for July to September (Q3) and October to December (Q4) at £2,024.58 and £2,076.12 respectively.

In our weekly issue of Current± Price Watch – powered by Enact – we take a look at Britain’s interconnector plans, the approach of the end of the ESO’s Winter Enhanced Actions options, and passing on the drop in wholesale prices to consumers.

Following the early announcement of the extension of the Energy Price Guarantee (EPG) at the current rate of £,2500 for three months, there were only a few key energy focused elements to the Spring Budget.

The Energy Price Guarantee (EPG) will be kept at its current rate for an additional three months, fixing prices at £2,500 till the end of June.

Following the closure of the observation window on 17 February, Cornwall Insight has confirmed its final prediction for the April Default Tariff cap for a typical household is £3,294 equivalent per year.