Particle.news

Download on the App Store

Ofgem Lifts Energy Price Cap 2% to £1,755 From October

The regulator blames policy costs plus higher grid charges despite steady wholesale prices.

Overview

  • The cap for a typical dual‑fuel household paying by direct debit rises to £1,755 from 1 October across England, Scotland and Wales.
  • Ofgem cites expanded Warm Home Discount costs and increased electricity balancing and network charges, with balancing adding about £1.23 a month to average bills.
  • Standing charges increase to 53.68p a day for electricity and 34.03p for gas, with the electricity unit rate edging up to 26.35p/kWh and the gas unit rate dipping to 6.29p/kWh.
  • Around 34 million accounts fall under the cap, while roughly 37% of customers are on fixed deals that are unaffected, and Ofgem says switching to a fix could save more than £200 compared with the new cap.
  • Consumer groups warn bills remain well above pre‑crisis levels even as the Warm Home Discount extends £150 support to an estimated 6.1 million households, and Cornwall Insight forecasts a possible cap fall in January to about £1,712.