The Government has announced a new ‘Energy Price Guarantee’, limiting the price that suppliers can charge per unit of energy. For the typical household, this should result in an energy bills cap of £2,500.
The Energy Price Guarantee comes into effect on October 1 2022 in order to limit the soaring cost of energy bills, with a rise to £3,549 a year previously predicted. The guarantee will be in place for two years.
This does not mean that you can’t end up paying more than £2,500 as the cap is on the cost of each unit of electricity and gas and you will still have to pay for the amount of fuel that you use. The UK Government has estimated that the annual bill will be around £1,750 for those living in purpose built flats, £2,650 for a semi-detached house and £3,300 for a detached house.
There is financial support available to help manage the rising cost of energy bills. All households will receive a £400 discount on their fuel bills from October, paid in monthly sums of £66 throughout winter. An additional £650 is being paid to low-income households who receive a number of benefits or tax credits. Pensioner households will also receive a payment of £300, and people with a disability are due to receive a payment of £150.
For help with energy bills, contact your energy supplied. However, Action Surrey is also available for advice on energy efficiency and offers a number of grants to improve the energy efficiency of your home. The impartial energy advice service enables Surrey residents to access a network of trusted, local and experienced installers for various energy saving measures, such as loft insulation, cavity and solid wall insulation, energy efficient boilers, LED lighting, solar panels and more.
Action Surrey has developed an online community blog giving tips and advice on what actions can be taken at home to live sustainably including advice which could result in savings on water and energy bills. Check out their latest blog post, including advice from Ofgem on the rising cost of bills, here.
Action Surrey can also check if you’re eligible for grant funding towards measures that could help reduce energy consumption. The friendly team can be contacted on 0800 783 2503 or you can get in touch by completing an online enquiry form.