Energy price cap expected to rise as the cost of gas continues to soar

The brand new stage for the vitality worth cap will probably be introduced on February seventh, and with just a few weeks to go till this date, a lot of vitality suppliers and vitality consultants have warned that we are able to count on to see it rise as soon as once more.

Ofgem’s present cap – which was set in October 2021 – limits the utmost charge vitality suppliers can cost shoppers for his or her default tariffs to £1,277 a yr, however as a result of the price of wholesale gasoline nonetheless continues to extend, it’s virtually a certainty the brand new cap will comply with swimsuit.

How a lot will the value cap go up?

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