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Is your supplier going to change your energy bill?

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Is your energy supplier making a change to your bill in January? 

According to the BBC, many of the biggest energy suppliers in Britain have contacted customers regarding a minimal price change, which will begin in the new year. These changes come as a price change to the cost per unit of energy from 1st January 2023. 

On average, the typical household energy bills will remain at £2,500. However, the maximum rates suppliers can charge per unit of energy are being updated, meaning your bills may change. However, it seems only pennies will be added to your bill as a result. 

These changes are coming into force at the start of January, affecting 12 energy “regions”. Energy suppliers can put up their prices to the new maximum unit rates for gas and electricity. 

How much will my bill change?

If you have received an email from your supplier, or think you are likely to receive one, don’t panic. The changes are just a fraction of a penny, however there will be minor variations between suppliers and across geographical locations.  

Both gas and electricity unit rates will change in all 12 energy “regions”. The biggest changes will be seen in Merseyside, North Wales and London. In these areas, the unit rate for electricity is increasing by more than 1p per kWh. 

According to the BBC, Merseyside will see the highest billed rate in Britain. The rate will be 38.26p per kWH, more than four pence more than the average price of 34p, which was quoted by the government. 

Electricity rates have also been reduced in some areas, as the result of the maximum charge changing. So, as Merseyside and North Wales see their unit rates increase by 0.4p, some households in the North East of England will see their electricity unit rates decrease by 0.4p. Rates have reduced in eight areas for pre-payment customers. 

Which suppliers are making changes?

  • Scottish Power 
  • Bulb 
  • EDF 
  • British Gas 
  • Shell 

Octopus Energy said they would pass on cuts, but not rises to its customers. It said all increases would be absorbed by the company, bar “Economy 7” customers.  

EON energy has also said changes would be applied to customers who pay via direct debit and those who are billed monthly, but they would not pass changes onto those on pre-payment plans. 

The post Is your supplier going to change your energy bill? appeared first on MoneyMagpie.

Original source: https://www.moneymagpie.com/make-money/is-your-supplier-going-to-change-your-energy-bill

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