As we enter the new financial year, here’s a quick summary of what the Chancellor’s recent budget announcements mean for energy bills:
The average UK energy bill will still be capped at £2500 till June (an extension of the ‘Energy Price Guarantee’), instead of going up by 20% this month as was previously planned. However, households will stop receiving the monthly £66/£67 Energy Bill Support Scheme payments from April, so what each household is paying every month will be going up.
There is still nothing in the budget to support households to insulate or fit heat pumps.
Some good news for those on prepayment meters: bills will fall from July 1 by an average of £45 per year.
Customers on prepayment meters have been paying more than those paying by direct debit because to date, energy companies have passed down the cost of installing and managing the meters to the customer. This has now been stopped, with Jeremy Hunt acknowledging it as unfair.
Forced transfer to prepayment meters has also been stopped; customers who could not pay bills were previously forced to have a prepayment meter installed. For more information, including useful links for those struggling to pay on prepayment meters, see https://www.moneysavingexpert.com/news/2023/03/extra-costs-for-prepayment-meter-households-to-be-cut/
Come to Oxford City Larder for home energy advise and to pick up free window insulation kits, radiator keys and dehumidifiers
We (Neville, and sometimes Mim) continue to be at Oxford City Larder on a relatively regular basis, offering support and advice on home energy and bills, as well as a whole host of freebies like window insulation kits, radiator keys and small chemical dehumifiers to help tackle mould and condensation. Pop by and say hello with any questions. To find out when we’re next there, head to our calendar.