On April 1 2022 the UK energy cap is set to increase for approximately 22 million people. The increase is due to the record high in global gas prices with wholesale prices quadrupling.
The price cap was introduced in January 2019 with the idea of keeping energy prices at a fair value. Twice a year Ofgem – the company that regulates energy in Great Britain – will reasses the fair market value of energy.
For many, this will financially effect a lot of people so we have provided some tips on trying to further reduce your energy bill.
Whilst these suggestions may only make small changes to your household bills we have written in previous blogs on how to better improve your energy bills!
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If you are struggling with energy costs please look into other Government schemes available. Alternatively you can check out the Ofgem Website.