Government Announces Price Cap
The UK Government has announced details of a price cap for electricity and gas bills which will come into effect from 1 January 2019.
The changes do not affect Together Energy customers who already benefit from the best prices in the UK.
However, for people on a variable tariff using an average consumption it means that they cannot pay more than £1,137 per year for their dual fuel bills if they pay by direct debit. The cap is designed to protect customers from companies enforcing excess charges on bills. Savings will vary depending on gas and electricity consumption, current charges and how customers pay.
Paul Richards, CEO, Together Energy said, “The price cap will help people who don’t shop around to get a better rate from companies such as us who can save them money. Many of our customers who have switched to our three year ‘Brexit Protect’ tariff in July will be protected from any rise in wholesale prices providing peace of mind.
“Energy wholesale costs have increased and it’s likely that all consumers will be facing price increases this winter unless they are on a fixed rate. If that happens Ofgem might increase the cap.”