Millions of homes in England will have greater energy bills this winter than they did last year, with over half (47%) of those affected belonging to the lowest tenth of households.<\/p>\n\n\n\n
According to the Resolution Foundation, more than one-third (35%) of English homes, or 7.2 million households, will face a rise.<\/p>\n\n\n\n
The anticipated increase comes despite the fact that the Ofgem energy price ceiling is scheduled to fall beginning in October.<\/p>\n\n\n\n
However, the Resolution Foundation has warned that the predicted headline fall in bills masks wide heterogeneity for households.<\/p>\n\n\n\n
Ofgem, which will announce the new price cap tomorrow, is expected to announce the price cap on a like-for-like basis will fall by seven percentage points to around \u00a31,925 from October 1, according to a Cornwall Insight forecast.<\/p>\n\n\n\n
The price cap was set at \u00a32,074 a year for a typical household on a ‘dual fuel tariff’ and paying by direct debit from July 1.<\/p>\n\n\n\n
The leading forecaster said the cap will also appear lower from October at \u00a31,823 because Ofgem has changed how it calculates the average energy bill.<\/p>\n\n\n\n
The April to June 2023 price cap was \u00a33,280 but households on typical use paid \u00a32,500 under the government\u2019s energy price guarantee.<\/p>\n\n\n\n
The price cap figures do not mean customers cannot pay more than this amount for their energy bills.<\/p>\n\n\n\n
The amount people pay depends on actual household usage as well as meter and payment type.<\/p>\n\n\n\n
The aforementioned figures are based on people paying direct debit on a standard variable tariff, known as a default tariff.<\/p>\n\n","protected":false},"excerpt":{"rendered":"
Millions of homes in England will have greater energy bills this winter than they did last year, with over half (47%) of those affected belonging to the lowest tenth of … <\/p>\n