Energy Price Guarantee EPG

 In today’s (17th November) autumn statement, the overwhelming majority of households will see their energy bills increase by £900 next year, adding to bills that charities have warned are already unaffordable.

The government’s energy price guarantee (EPG), which is capping typical energy bills at £2,500 until April, is being extended for another year. However at that time the cap will rise to £3,000 based on average usage. With energy prices forecast to remain high throughout next year, The chancellor said the intervention would save the average household £500.

Without the continued government support, average bills would have been expected to rise to £3,740 a year, according to most analyst estimates. Average bills of £3,000 will be double what they were before the energy crisis took hold.

The chancellor  also announced an extra £900 for households on all means-tested benefits, £300 to pensioners, and £150 for people on disability benefit. There will also be an extra £1bn given to councils to help those “who might otherwise fall through the cracks”.

For help with your bills click here