Close the energy price drops to £ 1,720

CLOSE Energy prices have dropped from £ 1,849 to £ 1,720 with the effect from July, eliminating a little pressure on many financial households that are financially opposed.

CLOSE Price, which was introduced by the Energy Regulator of OFGEM in 2018, limits what can be imposed by suppliers to their standard variables, or default, tariffs. The lid is based on the price per KWH electricity and gas that can be charged. However, it is not a total bill limit, because it depends on your use, so those who live in large properties or who consume large amounts of energy can see annual bills far higher than £ 1,720, while they in small homes can pay less.

The decline in wholesale prices has caused a decrease in energy price limits for July to September, but steep energy costs remain a real concern for most people, and especially for millions of retirees who no longer meet the requirements for winter fuel payments if they do not claim benefits.

Caroline Abrahams, Director of Amal at Age UK, said: “Although this news is encouraging, the pressure of living costs faced by parents is incessant. There is a significant increase for the costs of other important goods, including water, which increases by 26%, council taxes, by 5%, as well as an increase in mobile contracts and broadband services and costs for criminals.

“The fall of this energy price will not cancel the difficulties that have been experienced by many parents and may have to survive again this winter. Although the weather is relatively light, last winter is very difficult for retirees who lost their winter fuel payments. Retirees, many of them live with fixed income, have faced the impossible choice between heating their homes and covering other important expenses.”

If you are worried about high energy prices, read our article Crisis Energy Bill: What can you do about soaring costs?

Here, we explain what the meaning of price limits for you is and what you can do to keep energy costs