Ofgem Price cap changes from April 2023
Ofgem has announced the price cap is falling by nearly £1000 effective from the 1st of April 2023. What does this mean?Your energy bills are likely to go up around 20%, which is around £500 per year if you consume the average amount of energy.Although the price cap has fallen, the financial support provided by the government ‘the energy price guarantee’ will also fall. As a result, your rates will increase by around 20% more come April 2023. Which is an additional average £42 per month for the typical household. This will likely last until July when prices are anticipated to decrease.The increase...