ENERGY bills are set to rise in April when the price cap increases by nearly £700.
The price cap affects energy bills for standard variable tariffs and will rise from £1,277 to £1,971.
1
The majority of households across the UK are now on default tariffs as they are cheaper than fixed deals, despite the rise.
Several energy companies have now confirmed that they will increase their standard tariff in line with the price cap from April 1.
That means you can expect your energy bill to rise soon if you’re not on a fixed deal with these suppliers.
If you’re on a fixed deal your energy bill won’t change, because you’ve locked in the price.
But you could find energy prices are higher when you come to the end of the term.
If you’re on a standard variable tariff and your bill is going up but you’re worried about the cost or falling behind on bills, there’s help available.
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You should ask your supplier in the first instance, as they can offer a range of help including hardship funds.
There are several government and local schemes that can also help you – you can check them all out in our guide.
If you’re worried about paying bills, falling behind or are in debt, there are plenty of organisations where you can seek advice for free, including:
British Gas
British Gas has not yet confirmed if prices are rising and we will update here when we know back.
Price capped tariffs offered by the supplier include:
- Standard Credit
- Standard PAYG
- Standard Variable
- Safeguard Credit
- PAYG Safeguardv2
- PAYG Safeguard
- FlexiPAYG Mar 2023
- Welcome to British Gas,
- The Peoples Tariff
- Welcome Together
Bulb
Bulb has confirmed that it will be putting up prices from April 1 for its pay monthly customers.
A Bulb spokesperson said: “Wholesale energy prices have quadrupled in the past year, so unfortunately we’ll be increasing our prices for customers on April 1.
“We know this is a worrying time for many people and so we’ll provide as much help as possible to our members, like financial support and help installing free home energy efficiency measures.”
The supplier will update Pay as you Go customers later this month, but it expects that this will rise too in line with the price cap.
EDF
EDF has said it will increase prices in line with the price cap from April 1.
Philippe Commaret, managing director of customers at EDF said on Friday that the company wanted to be “fully transparent and give our customers as much notice as possible”.
The supplier will also write to customers in the coming weeks to explain how their bill will be affected.
E.On
We’ve asked E.On if it’s putting up prices and will update when we hear back.
Shell Energy
Shell Energy has said that it will be increasing the price in line with the cap to reflect the costs we’re facing in buying and supplying the energy for customers.
This will affect those on a Shell Energy flexible tariff, which is a standard variable tariff, from April 1.
Octopus Energy
Octopus Energy told The Sun it is still processing last week’s announcements but it will “do all we can to help people through this and will give plenty of notice of any changes and of ways we can help”.
Octopus Energy’s standard variable tariff which is price capped is the ‘Flexible Octopus’.
Ovo Energy and SSE
We’ve asked Ovo Energy, which now also owns SSE, if it’s putting up prices and will update when we hear back.
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