Energy Bills and the Price Cap News: page 20
- March 2022
JRF publishes energy price analysis of March 2022 price cap
The Joseph Rowntree Foundation has published analysis of the March 2022 price cap finding low-income households face sharply higher energy costs even after the support package announced in February.
Funding paid to billing authorities
The government paid Council Tax Rebate funding to English billing authorities in March 2022, ahead of £150 payments to households in bands A to D from April.
- February 2022
Investec Bank Ltd estimates October 2022 price cap could exceed £3,000 per household
Investec Bank Ltd estimated on 24 February 2022 that the October price cap could rise another 50% to more than £3,000 per household, prompting charity warnings on fuel poverty.
Price cap increase announced to apply from April
Energy UK has noted the announcement of an increase in the energy price cap that will apply from April, published alongside a parliamentary inquiry into decarbonising heat in UK homes.
Ofgem decides to include Green Gas Levy allowance in default tariff cap from cap period eight
Ofgem has decided to add a Green Gas Levy allowance of about £2.69 per gas meter to the default tariff cap from April 2022, recovering scheme costs dating back to October 2021.
Ofgem decides to proceed with licence modification enabling in-period adjustments to the default tariff cap
Ofgem has confirmed it will change supply licences so it can recalculate the default tariff cap inside a cap period, under five tests, in exceptional circumstances.
Ofgem publishes policy consultation on medium term price cap changes
Ofgem has published a policy consultation on medium term changes to the energy price cap, proposing quarterly updates, a reduced notice period and a backwardation mechanism.
Chancellor announces Energy Bills Rebate support package
Chancellor Rishi Sunak announced an Energy Bills Rebate on 3 February 2022, comprising a £200 energy bills discount and a £150 council tax rebate, after Ofgem confirmed a 54% rise in the price cap.
Energy bills support package announced
The government announced a £150 council tax rebate for households in England in bands A to D and a £144 million discretionary fund on 3 February 2022, as part of support for rising energy costs.
Energy price cap increase announced
Turn2us has responded to the announcement of a higher energy price cap, warning that millions of households face uncertainty over their finances and calling for more targeted government support.
Energy price cap increase announced
Nesta has responded to the announcement of an increase to the energy price cap, calling the UK's energy price crisis a global gas crisis and pointing to home heating as the source of the solution.
Government announces £693 energy price cap rise and bill support measures
Citizens Advice has called the government's package of support for a £693 rise in the energy price cap strange, complicated and untargeted, as record numbers seek crisis help.
NEA calls UK Government energy crisis measures woefully inadequate
National Energy Action has called the UK Government's £200 rebate and Council Tax support woefully inadequate, saying prepayment households still face a gap of more than £500 a year.
OFGEM announces 54% energy price cap rise
Ofgem has confirmed a 54% rise in the energy price cap, taking average direct debit bills to as much as £1,971 from April and prepayment bills to £2,017.
Bulb collapse takes households affected by failed suppliers above 3.7 million this year
Green Alliance says 21 energy suppliers have collapsed since the start of September, and that Bulb's failure has taken the number of households affected by a failed supplier above 3.7 million this year.
Energy Bills Support Scheme announced with £400 electricity bill discount
The Government's Energy Bills Support Scheme, first announced in February 2022, provided a £400 discount on electricity bills to households as energy prices rose sharply.
February 2022 wholesale decision placed cap period seven adjustment in additional risk allowance
Ofgem has confirmed that the adjustment for cap period seven wholesale costs will stay inside the additional risk allowance, with no proposal to move it.
Green Alliance publishes briefing on protecting consumers from high energy bills
The Green Alliance has published a briefing on protecting consumers from high energy bills, setting out the causes of the 2021 price spike and what it says should happen next.
Ofgem decides to add SoLR charge to domestic gas unit rates
Ofgem confirmed in February 2022 that the costs of supplier failures would be recovered through a volumetric charge on domestic gas unit rates, adding to household bills.
Ofgem decides in-period adjustments to the Default Tariff Cap will be forward looking only
Ofgem has decided that any in-period adjustment to the Default Tariff Cap will apply only for the remainder of the cap period, not retrospectively, under a new licence power.
Ofgem previously set a £12 additional electricity shaping and imbalance allowance
Ofgem concluded in its February 2022 wholesale decision that electricity shaping and imbalance costs exceeded the price cap methodology, adding a £12 allowance recovered across cap periods eight and nine.
- January 2022
NEA Northern Ireland welcomes launch of DfC Emergency Fuel Payment Scheme but says £2M budget falls short
National Energy Action Northern Ireland has welcomed the Department for Communities Emergency Fuel Payment Scheme for 20,000 households but says its £2 million budget falls far short of what is needed.
NEA responds to Ofgem consultation on short term price cap changes
National Energy Action has told Ofgem that doing nothing is the best of the short term price cap options for fuel poor households, opposing exit fees on standard variable tariffs.
E3G publishes briefing on responding to the energy bill crisis
E3G has published a briefing setting out near-term actions to protect households from sharp energy price increases and longer-term priorities to rebuild for resilience.
Compensation window opens for forced prepayment meter installations
Ofgem has opened a compensation route for households forced onto prepayment meters between 1 January 2022 and 21 January 2023 where suppliers broke the installation rules.
Power NI raises domestic electricity prices by 21.4%
Power NI raised domestic electricity prices by 21.4 per cent from 1 January 2022, adding £131 a year to the average household bill in Northern Ireland.