Energy price cap rise: How much will the average household bill now be?

The energy price cap has gone up once more but how is it due to impact you, and just how much will bills rise by?

Transcript

00:00From the 1st of October 2024, the energy price cap went up. It's the amount energy suppliers

00:08are allowed to charge customers per unit used. Ofgem is responsible for setting it for the

00:1328 million households across England, Wales and Scotland every three months. This time

00:18up until the end of the year, gas prices will be capped at 6.24 pence per kilowatt hour

00:23and electricity at 24.5 pence per kilowatt hour external. But what will that actually

00:28mean for the bill we'll pay? Well, it's a rise of 10% on the last quarter. The annual

00:33dual fuel bill paid by direct debit will be £1,717 for an average household. The actual

00:40amount you'll pay will depend on how much energy your household uses, where you live

00:44and the type of meter you have. The rise has meant some are turning to fixed rate tariffs

00:48which offer certainty for a set period. With all the talk of rising bills, it brings us

00:52to the age old debate about when to turn on the heating for the colder months. When's

00:56too early? Perhaps yours is already on. And does the debate cause arguments among the

01:00members of your household?