You may have seen across the news recently information about rising energy costs due to an increase in the wholesale costs of energy. These increases have the potential to impact all of us, especially as we move towards the winter months when heating our homes becomes more necessary.
We want to provide you with further information around what this may mean and what you can do to keep the costs of your energy down.
The UKs energy regulator, Ofgem has published a statement that suggests energy bills could increase by as much as £150 per household once the increase to the energy price cap comes into effect on the 1 October 2021.
This has the potential to impact around 15 million households on variable or default rates and prepayment meters up and down the UK who are covered by the increases to the energy price cap. Lower income households, especially pensioners, can get a £140 rebate off their energy bill under the Warm Home Discount.
To read more of Ofgem’s statement, click here.
We understand that many of you will be concerned about increasing energy bills this winter. We are able to offer free independent advice and support across a range of topics including wellbeing, money advice, tenancy support and employment and skills. Click here to read more, or call us on 0800 678 1221 – we’re here to help.
In addition to the support outlined above, if you’re experiencing any financial difficulties and want help with managing your money get in touch with us today to see how our myMoney offer through our Better Days programme can support you with this.