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British Gas, E.on, SSE and more confirm new prices ahead of April energy bill hike

Unsurprisingly, the majority of energy companies have increased their standard tax rate to the maximum allowed under the April price cap. The main exception is Octopus Energy, which has announced its loyalty tariff. new

British Gas has confirmed its new standard rates from April
British Gas has confirmed its new standard rates from April

Energy supplier including British Gas, E.on and SSE have confirmed their new standard and default tariffs under the April price cap.

Management agency Ofgem has confirmed that they are increasing the price cap to £693 from £1,277 to £1,971 from April 1 – a 54% increase and a big impact on household bills.

Prepaid customers will benefit even more, with a £708 increase from £1,309 to £2,017.

The energy price limit sets a limit on how much your supplier can charge for each unit of gas and electricity you use and is currently reviewed twice a year.

It’s not a cap on your total bill – as the name suggests – so if you use more energy you’ll pay more, or use less and you’ll pay less.

How the energy bill crisis affects you

Currently, rising energy bills mean that no fixed-rate transaction on the open market can cross the price cap – leaving many households with the best chance at a standard variable rate. .

This means that the usual advice about switching energy suppliers has been overturned during the cost of living crisis, due to skyrocketing wholesale gas prices.

The only exception is for some existing customers, who may find their energy supplier offers them a matching – or better – capped-price deal.

Are you worried about how you will pay your energy bills? Let us know: mirror.money.saving@mirror.co.uk

For example, earlier this month, E.on’s cheap fixed rate deal was pulled out in just a few hours after it was flagged by Martin Lewis.

The founder of MoneySavingExpert flagged the one-year fix E.on Next Online V11 to his 1.3 million followers on Twitterset at the same rate as the April 2022 price cap.

The Ukraine crisis It also means that energy prices are predicted to rise further later this year, with experts warning that we could see another 40% rise above the price cap in October.

Standard tariff of energy suppliers from April

Unsurprisingly, the majority of energy companies raised their standard tax rates to the maximum allowed under the April price cap.

The main exception is Octopus Energy, which has announced a new loyalty tariff that is £50 less than the price cap.

The new rates apply to the Octopus Flexible Tariff, which is listed at £1,921 a year for typical energy users.

But it’s only available to customers who joined the energy company before March 3, 2022, or if you’re about to do a permanent deal by April 2, 2022.

Here’s how the major energy companies compare:

  • British Gas – £1,971 (direct debit) or £2,017 (prepayment)
  • Bulb – £1,971 (direct debit) or £2,017 (prepayment)
  • E.on – £1,971 (direct debit) or £2,017 (prepayment)
  • EDF Energy – £1,970 (direct debit) or £2,017 (prepayment)
  • Octopus Energy – £1,921 (current direct debit customers) or £1,969 (new direct debit customers); prepaid TBC
  • Outfox the Market – £1,971
  • Ovo Energy – £1,970 (direct debit) or £2,015 (prepayment)
  • Scottish Power – £1,971 (direct debit) or £2,017 (prepayment)
  • Shell Energy – £1,971 (direct debit) or £2,017 (upfront)
  • SSE – £1,970 (direct debit) or £2,015 (upfront)
  • Convenience Store – £1,960 (direct debit) or £1,991 (prepayment)

These rates are averages as gas and electricity unit prices and flat fees vary by region.

Check out what help you can get with your energy bill

If you are really concerned about your energy bill, you should talk to your energy provider first to see what they can help you with.

There are also many programs that you may be eligible for, especially if you are in a low-income household or claim benefits.

for example Warm house discount scheme, which offers a one-time payment of £140 to people who receive the Guarantee element of Pension Credit or are on a low income.

There are also Winter fuel payment scheme, in which state pension recipients can receive between £100 and £300.

Low-income households can also get £25 a week to help pay their energy bills in the winter thanks to Cold weather payment program too.

You may also want to use free sponsored search engine from debt charity Turn2Us to see what help is available where you live.

There are currently about 8,000 grants.

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https://www.mirror.co.uk/money/british-gas-eon-sse-more-26437882 British Gas, E.on, SSE and more confirm new prices ahead of April energy bill hike

Fry Electronics Team

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