The energy price cap could reach £7,700 next year, price cap experts have warned, as the cost of living crisis shows no signs of abating.
are decisive in determining electricity prices because over the last year 42% of the UK’s electricity was generated by burning gas.
The cap is the maximum price that households on their supplier’s default tariff would have to pay for every unit of gas and electricity they used for the next three months. It is calculated based on the wholesale price of gas and electricity and also includes allowances for tax, charges paid to the energy networks, green levies and social payments.Your Money Matters is a campaign launched by us and our sister titles across Newsquest to help you overcome the surge in the cost of living.
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