Professor Jim Watson
Professor Jim Watson - Professor Jim Watson (UCL Bartlett School Environment, Energy & Resources) breaks down in The Conversation how proposed changes to the Energy Price Guarantee will affect the bottom line for households and businesses this winter, and beyond. Among the grim news in Jeremy Hunt's recent autumn statement was an attempt to square the circle on energy bills. Funding for the Energy Price Guarantee that aims to limit household energy prices will continue throughout the 2023-24 financial year. But the level of support available after this winter will be significantly lower. An increase in the energy price cap means that the annual average household bill will rise from £2,500 to £3,000 per year. This is still around £700 a year less than households would pay from next April under the older price cap arrangements, according to research firm Cornwall Insight. When the additional government payment for this winter of £400 per household is taken into account, this means that average energy bills will rise by £900 in 2023-24.
TO READ THIS ARTICLE, CREATE YOUR ACCOUNT
And extend your reading, free of charge and with no commitment.
