The cost of energy in our homes is set to rise in January after the announcement this morning by the energy regulator
Ofgem’s energy price cap will increase by 5% from the current £1,834 to £1,928 from January 1 for a typical dual fuel household
From 1 January 2024, for a typical user paying by direct debit, the unit rate will be 29p/kWh for electricity and 7p/kWh for gas. The average daily standing charge will be 53 p/day for electricity and 30 p/day for gas.
The increase in the price cap is because the cost of wholesale gas has gone up in recent months. This is due says Ofgem to world events including the conflict in the Middle East.
