BBC<\/a> Breakfast correspondent Peter Ruddick said: \u201cThe energy price cap as you will know is set by the industry regulator every 3 months and it determines the maximum per unit price that can be charged for gas and electricity if you\u2019re on a standard or default tariff. So not the fixed deals that many of us are on these days.<\/p>\n\u201cWe are still talking though about 33 million households in England, Scotland and Wales. From today the level of the price cap will go up by 13% meaning the average equivalent annual bill will be just over \u00a31,862. Now, this remember is an average for a typical use household on a dual fuel tariff, paying their bills by direct debit. If you use more energy, you pay more. But the hope is that because this sharp rise today comes at a time in the summer when we typically use less energy, well, the impact won\u2019t be as severe.\u201d<\/p>\n
Mr Ruddick said that it will have a monthly impact on households with the Middle East conflict causing gas prices especially to rise. He added: \u201cIt works out at about \u00a318 a month more on average. But as I say, it\u2019s the per unit prices that matter most. And these are the new charges for gas and electricity. The new costs from today, you can see actually It\u2019s just under 2 p more uh for gas and electricity. So, a bigger percentage increase for gas and that\u2019s because of the higher wholesale prices as a result of the conflict in the Middle East. Your bill also includes those standing charges, that daily fee to maintain the network that you pay, no matter how much energy you use or don\u2019t use.<\/p>\n
\u201cThe latest figures here, these actually largely unchanged from the previous 3 months. The good news is that the current forecast is actually for a very slight fall in the level of the price cap in October. That\u2019s when it next changes. Oil and gas prices have come way off their recent highs thanks to the ceasefire in the Middle East and that should feed through to our bills. But the question is the problem is while that ceasefire remains fragile, the outlook for prices for our bills remains uncertain. So a little bit of an increase today, potentially a little slight drop in October, but everything quite uncertain. The real key today, take a meter reading and if you are on one of these standard variable tariffs, just have a Look and see if you could be getting a better deal by fixing.\u201d<\/p>\n
Uswitch energy spokesman Ben Gallizzi said: \u201cThere are two crucial things you should add to your to-do list for the coming days \u2013 submit a meter reading and get a cheap fixed energy deal.<\/p>\n
\u201cMillions of households should take a moment to read their meter at the end of the month to avoid being overcharged for their energy due to higher prices kicking in from July.\u201d<\/p>\n
Minister for energy consumers Martin McCluskey said: \u201cWe know families are deeply concerned about rising energy bills because of a war we did not choose, and we are determined to fight their corner to tackle energy affordability.<\/p>\n
\u201cThe action we took at the budget, which has taken an average \u00a3150 of costs off energy bills, is now factored into bills for the years to come.<\/p>\n
\u201cWe have also expanded the Warm Home Discount scheme, which benefitted around six million households last winter and will remain in place for the rest of the decade.<\/p>\n
\u201cWe will continue to monitor the situation ahead of the winter and plan for all contingencies, while doubling down on our mission for clean power to bring down bills for good.\u201d<\/p>\n
The jump in the price cap comes as latest forecasts suggest bills are set to remain high throughout this winter, falling by only around 0.5% in October compared to July as the US-Iran 60-day ceasefire helps to stabilise wholesale gas markets, Cornwall Insight said.<\/p>\n
However, it warned conflicting reports on the reopening of the Strait of Hormuz, the patchy progress of peace talks and uncertain timelines for repairing key regional infrastructure meant prices remained high, if less volatile than in the spring.<\/p>\n
Cornwall said it expected a typical household to be facing a bill of \u00a31,849 from October. While Ofgem is updating its definition of a typical consumer from July to reflect falling household energy use, which adjusts the headline figure to \u00a31,654, Cornwall said this represented \u201clittle change\u201d on a like-for-like basis.<\/p>\n
While July\u2019s higher prices will be cushioned by warmer weather<\/a> and lower household energy use, the October cap will land as people switch their heating back on and will have a greater impact on household finances.<\/p>\nPrices rocketed after Iran responded to US and Israel attacks by blocking the Strait of Hormuz shipping route, through which a fifth of the world\u2019s oil and gas is carried.<\/p>\n
Ofgem will announce the next quarterly price cap level for October to December on or by August 26.<\/p>\n","protected":false},"excerpt":{"rendered":"Failing to take simple action will mean some people will pay higher power bills 07:39, 01 Jul 2026Updated…\n","protected":false},"author":2,"featured_media":46532,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[21068],"tags":[21132,21104,21103,21131,21130,21129,23071],"class_list":["post-46531","post","type-post","status-publish","format-standard","has-post-thumbnail","category-e-on","tag-british-gas","tag-e-on","tag-e-on-se","tag-edf","tag-octopus-energy","tag-ovo-energy","tag-your-money"],"_links":{"self":[{"href":"https:\/\/www.europesays.com\/germany\/wp-json\/wp\/v2\/posts\/46531","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/germany\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/germany\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/germany\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/germany\/wp-json\/wp\/v2\/comments?post=46531"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/germany\/wp-json\/wp\/v2\/posts\/46531\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/germany\/wp-json\/wp\/v2\/media\/46532"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/germany\/wp-json\/wp\/v2\/media?parent=46531"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/germany\/wp-json\/wp\/v2\/categories?post=46531"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/germany\/wp-json\/wp\/v2\/tags?post=46531"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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