Energy prices have now increased after Ofgem raised the Energy Price Cap at the start of the new year. The Price Cap changes every three months and had been falling in 2023.
From January 1, 2024, however, the cap has been set to an average of £1,928 a year for a typical dual-fuel household paying by direct debit, which works out as an average increase of 5 per cent per household. These changes will affect each household differently though.
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You can see an estimate as to how much your bill will increase from January using our energy bills calculator below:
Standing charges remain the same as they were at the end of 2023 - 29p per day for gas and 53p per day for electricity, but what’s changed is the unit rate, the amount you pay based on usage.
Gas has gone up by 4.6 per cent per kilowatt hour (kWh) and electricity by 7.6 per cent per kWh. So if you use gas more than electricity you’ll see less of an increase in your bills than someone who uses electricity more, and vice versa.
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