The cost of energy is reducing from the 1st July
From the 1st July the cost of gas and electricity will be reducing under the Energy Price Cap. If you have your own contract for gas or electricity and it is not a fixed contract and you are on a standard tariff, the cost is due to change as follows:
|
Payment by direct debit |
Current |
1 July 2023 |
|
Gas standing charge per day |
29.11p |
29.11p |
|
Gas unit rate per kWh |
10.34p |
7.54p |
|
Electricity standing charge per day |
47.21p |
47.21p |
|
Electricity unit rate per kWh |
34.18p |
30.9p |
|
|
The unit rate is reducing but not the standing charge. You should see your bills reduce. From 1st July, anyone with a pre-payment meter will pay no more than those who pay by direct debit. Don’t forget to read your meters on 30th June and give the readings to your energy provider! As prices are reducing from the following day you don’t want your energy provider to assume you have used more energy at the higher pre July rate when they bill you.
If you are struggling with your bills, please speak confidentially to your scheme manager. We can assist you with looking at whether you are entitled to any benefits. Here is a useful benefit calculator from Age Uk Benefit calculator (ageuk.org.uk)
Martin Lewis (Money Saving Expert) gives his view here Martin Lewis: Is it time to fix your energy or stay on the price cap? (moneysavingexpert.com) of whether you should think of fixing your energy contract when fixed deals become available.
If you have any queries please speak to your scheme manager.