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BRIEF-Ofgem Says Energy Price Cap To Increase In April

· 02/05/2021 02:34
BRIEF-Ofgem Says Energy Price Cap To Increase In April

- OFGEM:

  • OFGEM - ENERGY PRICE CAP TO INCREASE IN APRIL BUT CONSUMERS SHOULD SWITCH TO SAVE MONEY

  • OFGEM - BIG INCREASE IN WHOLESALE ENERGY PRICES PUSH UP PRICE CAP BY £96 TO £1,138 TO PRE-PANDEMIC LEVELS

  • OFGEM - THE PRICE CAP CONTINUES TO SAVE CONSUMERS UP TO £100 A YEAR AND THEY CAN SAVE UP TO £150 MORE BY SWITCHING TARIFF

  • OFGEM - FROM 1 APRIL 2021 THE PRICE CAP WILL RETURN TO PRE-PANDEMIC LEVELS, PRINCIPALLY AS A RESULT OF CHANGES IN WHOLESALE ENERGY PRICES.

  • UK'S OFGEM - CONSUMERS WHO WANT TO AVOID THE INCREASE AND SAVE MONEY SHOULD SHOP AROUND AHEAD OF THE INCREASE IN THE PRICE CAP ON 1 APRIL

  • UK'S OFGEM - SUPPLIERS ARE REQUIRED TO PROVIDE EMERGENCY CREDIT TO CUSTOMERS STRUGGLING TO TOP UP THEIR PRE-PAYMENT METERS

  • OFGEM- FOR SIX MONTHS FROM 1 APRIL PRICE CAP WILL INCREASE BY BY £87 TO £1,156 FOR 4 MILLION PRE-PAYMENT METER CUSTOMERS.

  • OFGEM - FOR DEFAULT TARIFF PRICE CAP LEVEL STARTING ON 1 APRIL, OFGEM HAS ALSO ALLOWED SUPPLIERS TO CLAIM £23 TO COVER HIGHER LEVELS OF BAD DEBT

  • OFGEM - HOUSEHOLDS ON DEFAULT TARIFFS ARE SAVING AN ESTIMATED £75-£100 A YEAR OR £1 BILLION IN TOTAL ON THEIR ENERGY BILLS AS A RESULT

  • UK'S OFGEM - SUPPLIERS ARE REQUIRED TO PUT THOSE WHO ARE BEHIND ON THEIR BILLS ON AFFORDABLE REPAYMENT PLANS AND SHOULD NOT DISCONNECT THEIR CUSTOMERS

Source text for Eikon: [ID:]

Further company coverage: SSE.L


((Reuters.Briefs@thomsonreuters.com;))