Prime Minister Liz Truss has announced an energy price guarantee of £2,500 per year for a household on electricity and/or gas. This cap will last for two years and is based on an average bill.
New rates from 1st October 2022
Electricity unit rate: 34.00p per kWh
Standing charge 46.36p per day
Gas Unit rate: 10.30p per kWh
Standing charge 28.49p per day
What about heating oil?
Domestic Heating Oil is not eligible for the energy price guarantee however Liz Truss did announce there would be equivalent financial support provided to homes who use oil to heat their homes this winter in the form of a discretionary fund.
“For those using heating oil, living in park homes or those on heat networks we will set up a fund so that all UK consumers can benefit from equivalent support.”
There are no more details on how this will be delivered, but the £400 energy rebate will go ahead and the additional funding of up to £1,500 towards energy bills will also continue.
