Ofgem announced it is hiking its energy price cap by 10% from the current £1,568 for a typical household in England, Scotland and Wales to £1,717
Money saving expert Martin Lewis has issued advice to householders following the latest Ofgem price cap announcement that will see the average energy bill go up by £149 a year.
He added: "This rise means this winter many will still be paying nearly double what they were pre-crisis. From 1 October, the vast majority of homes in England, Scotland & Wales will see costs jump 10% – so for every £100 you pay today, you’ll typically pay £110. To be more accurate, as most of the rise is on the unit rate not standing charge, higher users especially those with gas, will overall see their costs rise by more than 10% rise, lower users less.
"Alternatively deals like E.on Next’s Pledge, or EDF Ensure are effectively discounted trackers, where they move with the price cap, but the unit rates or standing charges are guaranteed to be lower. And for more sophisticated energy users the Octopus Agile and Tracker tariffs where prices move rapidly can be far cheaper."
Jonathan Brearley, chief executive of Ofgem, said: “We know that this rise in the price cap is going to be extremely difficult for many households.
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