Ofgem’s new energy price cap hits in five days

March 27, 2024 Stu Turley Press
energy price cap

Britain‘s energy regulator is set to implement its latest energy price cap level announced on 23rd February, starting from 1st April.

The energy price cap defines the maximum rate energy suppliers are permitted to charge for each unit of energy used and the standing charge, applicable to customers on a standard variable tariff.

Between 1st April 1st and 30th June 2024, the annual energy price for a typical household using both electricity and gas and paying by direct debit, will decrease to £1,690.

This marks a £238 reduction compared to the previous price cap set between 1st January and 31st March 2024 which stood at £1,928.

Despite this anticipated decrease, households have been grappling with high prices for the past two years and analysts suggest the possibility of further reductions in the summer.

The post Ofgem’s new energy price cap hits in five days appeared first on Energy Live News.

Source: Energylivenews.com

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About Stu Turley 3386 Articles
Stuart Turley is President and CEO of Sandstone Group, a top energy data, and finance consultancy working with companies all throughout the energy value chain. Sandstone helps both small and large-cap energy companies to develop customized applications and manage data workflows/integration throughout the entire business. With experience implementing enterprise networks, supercomputers, and cellular tower solutions, Sandstone has become a trusted source and advisor.   He is also the Executive Publisher of www.energynewsbeat.com, the best source for 24/7 energy news coverage, and is the Co-Host of the energy news video and Podcast Energy News Beat. Energy should be used to elevate humanity out of poverty. Let's use all forms of energy with the least impact on the environment while being sustainable without printing money. Stu is also a co-host on the 3 Podcasters Walk into A Bar podcast with David Blackmon, and Rey Trevino. Stuart is guided by over 30 years of business management experience, having successfully built and help sell multiple small and medium businesses while consulting for numerous Fortune 500 companies. He holds a B.A in Business Administration from Oklahoma State and an MBA from Oklahoma City University.

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