Posted on 10th September 2018

How the Ofgem Energy Price Cap can affect you!

Energy Price Cap coming into place this December

We recently posted a blog regarding a proposed Energy Price Cap which is designed to protect 11 Million Households in the UK from unfair price rises on your bills.

Ofgem recently provided actual figures, and how they plan to execute the ‘ Safeguard Tariff’ which is often called a ‘Price Cap’. The purpose of this short blog is to summarise how the Energy Safeguard Tariff can affect you, but for full details you should visit the Ofgem news page, which will be linked at the bottom of this blog.

The planned cap will commence from the end of December and stay for the next 5 Years (Until 2023).

How can an energy price cap benefit you?

The average price cap for each household will be £1,136, which will save customers an average of £75 per year. These figures are strictly estimates as it depends on how much energy each house uses. If you leave your heating on all day, bills will still be higher in comparison to someone who doesn’t.

Someone on the most expensive tariff will save as much as £120, but savings depend on a number of factors including whether you pay by direct debit or not, who your energy supplier is, and how much your general usage is.

Who will benefit from an Energy Price Cap?

11 Million Households in England, Scotland and Wales that are on default tariffs should be better off with the Energy Price Cap. Customers in Northern Ireland have a different energy regulator, and have an Energy Price Cap already.

Why is an Energy Price Cap coming into place?

Theresa May announced the Energy Price Cap earlier this year in July. The Energy Price Cap was put in place to protect consumers from “rip-off” bills.

For more information, visit https://www.ofgem.gov.uk/publications-and-updates/ofgem-proposes-price-cap-give-11-million-customers-fairer-deal-their-energy

View all Articles

Testimonials

I am an installer of these modern, efficient electric radiators in Devon and Cornwall.
From experience, they are excellent heaters from an excellent company.
All the staff are very friendly and helpful. They are a pleasure to do business with.

Kevin Andrews, Installer, Cornwall

Your guys have just been and I’d like to say how helpful, friendly and professional they both were. They are a credit to your company and made me feel reassured. Thank you for responding so quickly and for getting the issue fixed.

K Kerr, West Lothian

We are a medium sized independent Builders & Plumbers Merchant / Home Improvement Centre based in the Channel Islands and always looking for quality products to add to our portfolio and offer to our discerning customers. Quality is important on a contained Island market as word of mouth plays a large part in the success of our business.
We took on EHC in 2012 and , in a nutshell, “haven’t looked back”. The Comet range of boilers has proved very popular with installers and householders alike and is now being seen by developers as the perfect choice for their projects giving us many repeat sales. We have also received very favourable comments on their solar equipment.
Having reliable back-up is a major factor on island and to this end EHC have proved to be a top-rated supplier always quick to deal with any minor problems that may arise.
Speed of delivery is excellent, positive feedback from our customers is as good as 100%, and their support at trade shows and provision of display product has provided us as a supplier with all we could ask for.

Kevin Brown, Precision Plastics (Guernsey) Limited

I have recently received a call from the Housing Officer on behalf of the residents of x Court, wanting to pass her thanks on to Kevin.
She informed me that he has been extremely helpful throughout the whole process of the Total Care Package from start to finish and even afterwards.
Once again many thanks from the residents and from myself.

Mr Thomas, ‘X’ Council, Lincolnshire