LONDON: The energy price cap is set to increase by 6.4% from April, the UK’s energy regulator Ofgem announced on Tuesday. This adjustment will be in effect for the period covering April to June 2025. According to Ofgem, the main driver behind the rise is a recent spike in wholesale prices, which account for approximately…
Tag: Energy price cap
Ofgem announces 1.2% increase in energy price cap for first quarter of 2025
LONDON: The energy regulator Ofgem announced on Friday, November 22, that the energy price cap will increase by 1.2% for the period from January to March 2025. This change means that the maximum rate per unit and standing charge that can be billed to customers will rise by £21 per year for an average household,…
Energy price cap for July to September confirmed
LONDON: Energy regulator Ofgem has today (Friday 24 May, 2024) confirmed the energy price cap for the third quarter of 2024. The price cap, which sets a maximum rate per unit that can be charged to customers for their energy use, will fall by 7% from 1 July to 30 September 2024, compared to the…
Ofgem announces significant reduction in energy price cap
LONDON: Energy regulator Ofgem has today (Friday 23 February, 2024) announced a significant reduction of the energy price cap for the second quarter of 2024. The price cap, which sets a maximum rate per unit that can be charged to customers for their energy use, will fall by 12.3% on the previous quarter from 1…
Ofgem consults on COVID-19 costs for the next level of energy price cap
LONDON: Ofgem is consulting on its proposal that no further adjustment is required to account for the impact of COVID-19 for the default price cap from October 1 2021. The consultation is open until 15 June 2021, with a final decision being published in early August before the next price cap update to take effect…
Energy price cap to increase in April, says Ofgem
LONDON: Ofgem, Britain’s independent energy regulator, has announced today that from 1 April 2021 the price cap will return to pre-pandemic levels, principally as a result of changes in wholesale energy prices. When wholesale prices fell sharply last year in the wake of the first lockdown, the level of the price cap fell by £84…