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How will the new price cap affect your energy bills in July?

The new price cap will be announced next week, with energy bills set to rise in July. Here's what Uswitch is predicting.
Nick Baker author headshot
Written by Nick Baker, Senior Editor
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Transcript

So energy bills are in the news again.

And unfortunately that's because of the energy price cap, which sets the bills for around 60% of us that haven't moved to fixed deals, it looks like it's going to go up a really serious amount in July.

Critically, not just in July, where we don't use that much energy, but it's predicted to hold that similar sort of price as we get into winter, where we really do use a lot of energy as we have the heating on.

We're looking at bills that could be several hundred pounds higher than expected.

There'll be several hundred pounds higher than we have for customers at the moment.

On the price cap for quite a long period of time, well over a 10% increase. So that's because of the situation in the Middle East, which is quite difficult.

Although the price cap has briefly held off that being passed through to bills that can no longer be the case from July, it is going to start to hit us in our pockets.

So the real question is what can we actually do about it?

Now, thankfully, there are some really good fixed deals that are available in the market that can mean that you do not have to accept this July increase in the price cap.

You can dodge that by moving on to a deal that is around the price, the current price cap, and certainly less than the July amount.

That basically means this increase coming can be seen as optional for customers willing to take a fix.

Many of us have already done that, but there are still lots and lots of people, millions of households, if they don't do something, will still be exposed to those increases.

So our message at Uswitch is you have an opportunity to act now, dodge the increases otherwise coming in July, and especially important because that will give you protection not just in July but for a whole year at least, including over the winter, where those energy rates can bite us the most.

At Uswitch, we're tracking the situation really closely and obviously are right up there with keeping track of prices and the deals that are available.

So check Uswitch.com for the latest prices specific to you and the latest advice.