Energy prices to rise from April 2023
Updated: Dec 6, 2022
Introduced on 1 October 2022, the energy price guarantee protects households from excessive increases in energy bills by limiting the amount families are charged per unit of gas and electricity.
It was due to last for two years until October 2024; however, the Chancellor Jeremy Hunt, has stated that support for the energy price guarantee will now only continue until April 2024, and the maximum amount suppliers can charge will also increase by another 20%.
The current frozen rate for a typical dual-fuel household is £2,500; however, this is set to rise to £3,000 from April 2023.
It is important to point out that the reality for household bills is much worse and will be even higher, as the £400 payment to all households this winter will not be extended.
