More energy price hikes.
Pure corruption. This is insane.
Sadly, Ofgem's energy Price Cap is predicted to rise again by 3% to 6% on 1 April (& likely again in July).
Here's the Price Cap price history of someone on 'typical use' (at annual cost)
- Predicted Apr 25: £1,796 to £1,847
- Current (Jan 25): £1,738
- Oct 24: £1,717
- July 24: £1,568
- Apr 24: £1,690
- Jan 24: £1,928
- Oct 23: £1,834
- July 23: £1,976
- Apr 23: £2,380 (state subsidised it via the energy price guarantee, actual Price Cap rate was £3,116)
- Jan 23: £2,380 (state subsidised it via the energy price guarantee, actual Price Cap rate was £4,059)
- Oct 22: £2,380 (state subsidised it via the energy price guarantee, actual Price Cap rate was £3,371)
- Summer 22: £1,877
- Winter 21/22: £1,216
- Summer 21: £1,084
- Winter 20/21: £993
PS As typical use is a mostly meaningless figure but it makes it easier in this case to see the change.
PPS The Price Cap for older caps were quoted higher at the time, as Ofgem's typical use figure was higher. Its been reduced a couple of times as people reduced their energy usage due to higher prices. So above all prices are rebased on current typical usage.