Ofgem
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Energy bills are to rise again next year, according to a respected forecaster. Costs from January to March are projected to rise another 1% to £1,736 a year for the average user, according to research firm Cornwall Insight. The energy price cap, which sets a limit on how much companies can charge per unit of electricity,…
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The energy price cap limits what utility companies can charge customers for a daily standing charge and each kilowatt-hour of gas and electricity they use. Regulator Ofgem releases the cap quarterly and estimates how much the average household would typically pay over a year at the new unit price. This figure, £1,717, assumes a household…
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Energy Secretary Ed Miliband has described Ofgem’s price cap increase as “worrying” for many people. The energy price cap will rise to an average annual £1,717 from October, the industry regulator has said – a 9.5% rise which Ofgem said was largely due to higher wholesale gas prices. “This will be deeply worrying news for…
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