TOP NEWS: Ofgem raises energy price cap by 80% to GBP3,549 per year

(Alliance News) - UK's energy regulator Ofgem on Friday said it will increase the annual energy ...

Alliance News 26 August, 2022 | 6:19AM
Email Form Facebook Twitter LinkedIn RSS

(Alliance News) - UK's energy regulator Ofgem on Friday said it will increase the annual energy price cap on default tariffs by 80%.

From October 1, energy suppliers in Great Britain can charge up to GBP3,549 per year for energy bills, up from the previous cap of GBP1,971.

The cap for households on prepayment meter bills will rise by 79% to GBP3,608 from GBP2,017.

Ofgem regulates energy prices for England, Scotland and Wales, while Utility Regulator sets the price cap in Northern Ireland.

By Tom Budszus; tombudszus@alliancenews.com

Copyright 2022 Alliance News Limited. All Rights Reserved.

Email Form Facebook Twitter LinkedIn RSS

Securities Mentioned in Article

Security Name Price Change (%) Morningstar
Rating
Centrica PLC 123.05 GBX 0.04
SSE PLC 1,747.00 GBX 2.16

About Author

Alliance News

Alliance News provides Morningstar with continuously updating coverage of news affecting listed companies.

© Copyright 2024 Morningstar, Inc. All rights reserved.

Terms of Use        Privacy Policy        Modern Slavery Statement        Cookie Settings        Disclosures