October 2024 Energy Price Increase

October 2024 Energy Price Increase

The energy regulator Ofgem has announced that the October price cap will rise by 10%. That means that for a ‘typical’ dual fuel customer, the bill will be about £1,717 per year – up from the current £1,568. That’s around £12 a month more.

The unit rates and standing charges are covered in the cap – but not the overall amount people will pay. So, the more you use – the more you’ll pay. For people paying on receipt of bill, the rate will be even higher.

Households who pay for energy on the go with a prepayment will pay £1,669 a year, up from £1,522.

And this may not be the end of the rises. Industry consultants Cornwall Insight has forecasted that prices could rise again for the January quarter by an additional £45 to £1762 – a further 3% rise.

The increase comes as millions of pensioners will now miss out on the Winter Fuel Payment. The payment is worth between £100 and £300 but will now be paid only to those pensioners on Pension Credit Guarantee or means tested benefits. The government estimate that more than 800,000 pensioners are eligible for the benefit but have not applied.

Act on Energy’s CEO Rachel Jones said ““We know this winter is going to be very hard for many people across our region.  We’re urging pensioners in particular who are worried about losing the Winter Fuel Payment to call us for advice”.

At Act on Energy we have a freephone advice line for anyone struggling with their energy bills. If you live in Worcestershire, Warwickshire or within the West Midlands Combined Authority areas, we’re here to help you. Our experts will help you with all your energy queries – including any available  funding schemes towards energy and water bills and debts as well applications for pre payment fuel vouchers. We will also help with energy efficiency advice and investigate grant funding for home energy efficiency improvements; because the cheapest energy is the energy that you don’t use.

Please don’t struggle alone. Call our freephone helpline on 0800 988 2881, Mon-Fri 9-5.

Next article...

New Project - DAWS

October 2, 2024

October 2, 2024

We have officially launched our new partnership with Birmingham Community Healthcare NHS Foundation Trust Charity (BCHC), funded by the Cadent Foundation.

Read now

Speak with us on our free advice line

Call 0800 988 2881

Technical Services

remove blurb

View all
No items found.