UK energy suppliers announce maximum price rises

25/08/2021 15:37
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Several UK energy suppliers have said they will raise the price of their standard gas and electricity tariffs to the maximum limit set by the energy regulator for the coming winter.

Ofgem’s price cap will climb to its highest level since it was introduced in early 2019 owing to a surge in global gas market prices. The regulator said that for 11 million households who pay by direct debit, energy bills would increase from an average of £1,138 a year to £1,277 from October.

For another 4 million households who use prepayment meters – who are typically more socially vulnerable – the average energy bill will rise from £1,156 to £1,309, a difference of £153.

Eon UK and Scottish Power have raised the price of their standard gas and electricity tariffs by 12% to an average of £1,277 a year. Ovo Energy, the UK’s second largest energy supplier, will raise the price of its standard dual-fuel energy tariff by 12.25% to an average of £1,276.49 a year from 1 October, just 51p shy of the cap set by Ofgem this month.

British Gas, the UK’s largest energy supplier, has yet to announce a price increase.

Read the full story here.

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