The government recently announced an Energy Price Guarantee, which will ensure that a typical household in Great Britain pays an average £2,500 a year on their energy bill for the next 2 years, starting from 1 October 2022.
The Energy Price Guarantee limits the amount you can be charged per unit of gas or electricity, so your exact bill amount will continue to be influenced by how much energy you use.
Does this mean I won't pay more than £2,500 for year, regardless of how much energy I use?
This amount is only an estimate of how much a typical household will spend. If you use more energy than a typical household, you may pay more than £2,500 a year.
The Energy Price Guarantee does NOT cap your energy bills - the more energy you use, the more you will pay.
Do I need to do anything to get the Energy Price Guarantee?
No, you do not need to apply and there's no need to contact your energy supplier.
My bills are included in the tenancy - what does this mean for me?
Many students have ‘bills inclusive’ tenancy agreements with their landlord. It is important to check for a fair usage clause in your agreement - a fair usage clause means that if your energy bills rise above the amount you agreed with your landlord, you will be charged for the extra energy used.
Most 'bills inclusive’ tenancies will have a fair usage clause so it is vital to check your tenancy agreement to avoid getting an unexpected bill. You should also talk to your landlord about the new guarantee to make sure you're charged a fair amount.
Where can I read more about the guarantee?
You can visit the Gov.uk website for more information on the Energy Price Guarantee.