A typical household will face an annual increase of more than £693 on their energy bill as the price cap is raised from April.
The Government announced Thursday 3 February that the energy regulator’s new price cap – the maximum amount suppliers can charge customers for each unit of energy will add hundreds of pounds onto the annual bill for 22 million homes.
Ofgem’s new cap for England, Wales and Scotland will take effect in April.
The Chancellor has announced a package of support to address this rise, including a council tax rebate for some households, and a £200 reduction to energy bills from October.
Age UK has said:
“The fact that the Chancellor has taken this action is testament to the strength of our campaigning over the last few months. It was inspiring to deliver our petition to No.10 alongside some of you this week, and it’s paid off as photos of our protest have featured in the coverage of today’s news. “However, this support does not go far enough. With average energy bills now set to increase by a staggering £693 per year, many older people will still be left facing energy costs they cannot afford to pay. I’m really concerned that this will lead to many more turning their heating down or off altogether because they know the support on offer won’t cover their costs. The Government must urgently think again and do more to help. “We’ll keep up the pressure. I believe your hard work has pushed the Government to finally wake up to the reality of this cost of living crisis. Together we’ll urge the Treasury to listen to older people and to take further, significant action so that everyone is able to make ends meet.”