Live today (August 11) at 1pm onDaily Mirror Facebook page
Join usNew shock forecastwarns thatutility billscould exceed £5,000 next April.
Her Auxilione, a consultant, said this morning that Ofgem could set a price cap at £5,038 per year.
Another forecast from Cornwall's Insights puts the October price cap at £3,582, then in January 2023 he will rise to £4,266. .
As electricity prices skyrocket, Martyn James of his Consumer Champion and Mirror Money reporter Sam Barker will be joining us today at 1pm to answer your questions.
They explain what is happening with utility bills, why, and all the help available to those struggling with their bills.
Today (Aug 11) at 1pm Daily Mirror Facebook Page
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Even the most optimistic projections raise average capped energy prices to £2,800.
Ofgem chief executive Jonathan Blair said the October price cap will be "around £2,800", though he said the comments were made in May. is.
More than 80% of his UK homes are now on energy contracts limited by Ofgem's price cap, which is set to rise again on October 1st.
What is Ofgem's energy price cap?
As the name suggests, price caps actually limit how much you pay for energy. It doesn't, but it works that way.
Instead, it sets limits on the rates a supplier can charge for each unit of gas and electricity used.
It is now reviewed four times every - January, April, July and October each year.
Ofgem believes that the idea of updating price caps more frequently is the key to more accurate pricing. to enable
But critics say that variable-rate energy deals, constrained by price caps, also allow higher energy prices to be passed on to consumers more quickly.
More than 80% of countries now have price capped energy trades.
Ofgem, who first introduced the price cap in 2019, is based on a number of factors, including the wholesale cost of electricity over the past six months.
What electricity bill help is available?
If you are unable to pay your bill, please contact your electricity billing company as soon as possible. You may be able to set up payment plans or provide customized support.
It's also worth asking if it's definitely the cheapest.
All major energy companies have charitable funds and grants that may be available to you if you are struggling.
For example,British Gas and Energy Trust is accessible to anyone who meets the eligibility criteria, not just its customers.
If you are over public pension age, you may be eligible for thewinter fuel payment scheme. This scheme is worth £100 to £300 during the winter.
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