“This is going to be another difficult winter,” warns Uswitch, as Ofgem announces October price cap level
Richard Neudegg, director of regulation at Uswitch.com, said: “This is going to be another difficult winter. For price cap customers, gas costs will be almost 27% higher than the same period last year, with the increase hitting just as the heating is due to go on.
“The Middle East conflict continues to impact wholesale gas prices, and ongoing supply challenges are set to hammer household bills as winter demand looms.
“Over half of households say they are already worried about paying for heating this winter. And now, those on standard tariffs may face a double blow on bills, with suppliers already pointing to another rise in January.
“The government’s electricity VAT cut, on top of the earlier removal of certain levies on bills, has meant this cap level isn’t as high as it might have been. But these haven’t been enough to hold off price cap hikes.
“While households may feel powerless, there is an escape route. The best current fixed deals will save you money straight away, let you avoid this increase, and protect you from future price shocks in January.
“With January's potential rise already looming, fixing before October is the only way to dodge a double blow to your energy bill.”
