Energy price caps limit how much suppliers can charge domestic customers per unit of gas or electricity. They are based on how much it really costs, on average, to get energy to your home. They will ensure you pay a fairer price for your energy and are protected from being overcharged by energy suppliers. Take a look at Ofgem.gov.uk for more information. There is a useful link if you do not know who your supplier is for both electricity and gas.
- The level of the price cap will fall by £84 from October to its lowest level £1,042, driven by lower wholesale energy costs following COVID-19
- The level of the cap for prepayment meter customers will fall by £95
- Ofgem recommends the price cap remains in place in 2021 which would ensure that 15 million households continue to pay a fair price for their energy.
The price cap will fall by £84 from £1,126 to £1,042 per year for the winter period (October-March). This is the lowest level of the cap since it was introduced on January 1 2019.
Previously, from 1 April 2020, the level of the cap fell to £1,162 for a dual fuel single rate customer paying by direct debit.
Business can blend and extend their contracts.
This means that say a business has a 24 month contract. It could have built in a break clause should the market price drop. The mid term review would result in new prices negotiated and then in return an extension to the existing contract is accepted by the business.
It is worth auditing your water usage as business water is deregulated.
Is your business address correct on your bill?
This basic bit of information is very important. Is yours correct for all your premises?
What if your address is not correct on your bill? It is best to do something about it now, as when you want to change services, this can be a huge problem. If your telephone number or meter details don’t match the address that is on the database then your request to switch to another provider might be refused.