The Office of Gas and Electricity Markets (OFGEM) announced in February 2022 that the UK energy price cap would be raised by 50% from April, the largest increase in electricity bills in UK history. Before the price increase, the average household electricity bill in the UK was about £1,277 to £1,370 a year, this means the electricity bill has already been increased by about £700 a year, and 22 million households across the country have been affected.

 

Later on, the new British Prime Minister Liz Truss has announced in September 2022 that an emergency energy crisis solution called "Energy Price Guarantee” will be implemented for 2 years to relieve people's hardships, the average household energy bill limit will be set to £2,500 and to replace the existing energy price cap policy. This means a saving about nearly £1,000 a year when compared to previous £3,549 (about HK$32,000) ceiling on household energy price cap as raised earlier by Ofgem, effectively nearly 27% higher than that in April.

 

But starting from October 1 this year，is the figure of £2,500 a year representing the upper limit of your energy bill annually?

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Answer : of course not!