The Energy Price Guarantee ends this weekend - what happens next

manchestereveningnews.co.uk:

Since October 2022, billpayers across the country have been benefiting from the Energy Price Guarantee. The government scheme originally capped energy costs at £2,500 for two years from October 2022 to September 2023.

However, this was later reduced to nine months, increasing to £3,000 from July 2023. Despite this increase, billpayers will no longer be required to rely on the Energy Price Guarantee because the Ofgem price cap from July will be lower than the EPG at £2,074 for average use.

It's important to note that this price cap will not be a flat rate on what you pay on bills per year, and may vary depending on how much energy you use. Try MEN Premium for FREE by clicking here for no ads, fun puzzles and brilliant new features The lower price cap reflects the trends in wholesale energy prices which have fallen from their peaks in the summer of 2022.

Despite this, there is a delay between the wholesale price and the rate at which customers pay - thisis why the significant reduction in the price cap in April 2023 was not steep enough to drive down bills below the EPG level. Join our WhatsApp Top Stories and Breaking News group by clicking this link If you took on a fixed rate in the past year when energy bills were dramatically high, you may have seen subsidies on your bill via the EPG.