Ofgem confirms Energy Price Cap rise

Today’s announcement by Ofgem confirms the latest upward rise in the energy price cap.

From 1^st January 2024, the price of energy for a typical household using electricity and gas paying by direct debit will go up by £94. While consumers had previously received a £400 government-subsidised discount towards their bills from November 2022 to March 2023, there is no sign of this being repeated for 2024.

We feel the frustration and pain of households who are already stretched by high heating costs, alongside mortgage repayments which are well above levels they originally budgeted for.

For full details, see the Ofgem website.

23rd November 2023