Energy Bills and the Price Cap news, page 18
- October 2022
Energy bills increased sharply
Which? has said it was encouraging households to lower combi boiler flow temperatures before energy bills rose sharply in October 2022, ahead of government guidance that December.
Energy bills to rise 64% on last winter
The End Fuel Poverty Coalition says energy bills will rise by 64 per cent against last winter within a week of the Chancellor's mini-Budget, with 6.99 million UK households forecast to be in fuel poverty.
Energy bills to rise for variable tariff customers under the Energy Price Guarantee
Households on variable tariffs face an average 27% rise in bills from 1 October 2022 under the Energy Price Guarantee, and suppliers are raising direct debits to cover the extra cost.
New energy price cap to push bills up by 80 per cent for variable tariff customers
Which? reports that the energy price cap taking effect on 1 October 2022 will raise bills by 80 per cent for households on variable tariffs, with appliance running costs rising sharply.
Energy Price Guarantee begins for domestic consumers
The Energy Price Guarantee took effect on 1 October 2022, capping the unit cost of gas and electricity so that a typical UK household pays around £2,500 a year for two years.
Energy unit prices surge overnight as Energy Price Guarantee takes effect
Combined electricity and gas unit costs rose by between 23% and 27% overnight on 1 October 2022 as the Energy Price Guarantee took effect, with the level depending on payment method and location.
Flexi variable costs updated for the quarter from 1 October 2022
ScottishPower has published the variable cost elements of its Flexi product for the quarter beginning 1 October 2022, showing changes to smart meter, balancing, distribution and transmission charges.
Fuel poverty estimates to rise with 1 October price cap change
The End Fuel Poverty Coalition estimates 21 million people in around 9 million homes will be in fuel poverty from the 1 October price cap rise, rising to 28 million people in January 2023.
GBP2,500 price freeze reported to take effect with fuel poverty still affecting millions
The End Fuel Poverty Coalition estimates 16.4 million people in 6.9 million UK households will remain in fuel poverty in winter 2022/23 even under a reported GBP2,500 price freeze.
Heating control savings estimates updated to Energy Price Guarantee gas prices
BEAMA has updated its estimates of fuel bill savings from heating control upgrades to reflect the gas prices set by the Energy Price Guarantee from 1 October 2022.
Household energy bills rose 27%
Typical household energy bills rose by 27% in October 2022, following a 54% increase in April, according to parliamentary research on domestic energy prices.
Octopus Energy identified as acquirer of Bulb
Octopus Energy was named in October 2022 as the buyer of Bulb's customers, business assets and liabilities, including customer credit balances, after a sale delayed from the summer.
Octopus Energy takes over Bulb customers
Bulb's customers were moved to Octopus Energy in October 2022 under Ofgem's Supplier of Last Resort process, ending the largest supplier failure of the energy crisis.
Policy costs removed from energy bills from October 2022
Social and Environmental Obligations were removed from household energy bills from October 2022, with the Chancellor funding the schemes through taxation instead of charging billpayers.
Price cap forecast raised to around £3,000 due to Ukraine conflict
Forecasts for the October 2022 energy price cap rose from £2,400 to around £3,000 after the conflict in Ukraine pushed up global gas prices, the Energy and Climate Intelligence Unit said.
Public spending impact added to cap statutory factors
Ofgem has confirmed that since October 2022 it must consider the effect of the energy price cap on public spending when setting the cap level.
New unit rates and standing charges take effect under the EPG
From 1 October 2022 the Energy Price Guarantee replaced the planned price cap, setting variable tariff unit rates at around 34p per kWh and standing charges at 46p per day for direct debit customers.
- September 2022
Citizens Advice calls for winter moratorium on prepayment meter installations
Citizens Advice has called for a winter moratorium until April 2023 on moving customers to prepayment meters under warrant and on switching smart meters to prepay to recover debt.
Welsh Fuel Support scheme opens for applications
The Welsh Fuel Support scheme opened for applications on 26 September 2022, paying eligible households a one-off £200 from their local authority towards winter fuel bills.
Energy Bills Support Scheme ministerial direction published
The government has published the ministerial direction that puts the Energy Bills Support Scheme on a legal footing, requiring domestic electricity suppliers to pay the £400 discount to eligible households.
Government confirms energy bill support for Northern Ireland and off-grid homes
The government has confirmed Energy Price Guarantee support, the £400 Energy Bill Support Scheme discount and a £100 alternative fuels payment for Northern Ireland and off-grid households.
Analysis updated for Energy Price Guarantee announcement
The Energy and Climate Intelligence Unit has updated its analysis of home insulation costs to reflect the Energy Price Guarantee, finding that Treasury could recover insulation spending through lower bills by early 2025.
Government announces two-year Energy Price Guarantee at £2,500 for typical household from 1 October 2022
The government has announced an Energy Price Guarantee limiting a typical UK household to £2,500 a year for two years from 1 October 2022, superseding the energy price cap.
UK Government confirms energy bills freeze at average £2,500 a year for Great Britain
The UK Government has confirmed average gas and electricity bills in Great Britain will be frozen at £2,500 a year, with the £400 rebate retained and a new fund for heating oil customers.
Liz Truss announces energy support package
Liz Truss has announced an energy support package setting the Energy Price Guarantee at £2,500 a year for the average Great Britain home, capping business costs for six months and lifting the fracking ban.
Citizens Advice published Out of the cold calling for a winter moratorium on forced prepayment meter installation
Citizens Advice has called for a winter moratorium on the forced installation of prepayment meters, warning that millions of households are disconnecting because they cannot afford to top up.
Green levies to be moved from bills to general taxation
Liz Truss confirmed that green levies which partly pay for insulating poorer homes will move off household energy bills and onto general taxation, a change backed by NGOs and the energy industry.
Warm This Winter petition passes 110,000 signatures shortly after launch
The Warm This Winter petition passed 110,000 signatures within days of launching, as the End Fuel Poverty Coalition estimated 12 million UK households would face fuel poverty this winter.
- August 2022
JRF publishes energy price analysis of August 2022 price cap and Cornwall Insight forecasts
The Joseph Rowntree Foundation has published a briefing on the August 2022 Ofgem price cap and new Cornwall Insight forecasts, warning that low-income households face severe financial harm.
Ofgem publishes default tariff cap levels for cap period 9a
Ofgem has set the default tariff cap for 1 October to 31 December 2022 at £3,549 a year for a typical dual fuel direct debit household, an increase of 80 per cent.