The price of gas and electricity has soared today for millions of households, as a new energy scheme has came into place.
The Energy Price Guarantee, which has replaced the original Ofgem price cap, is set at £2,500 for the 'typical' household. However, people are being warned that this isn't a total cap on their bills.
Like the Ofgem cap, what the new energy scheme will do is cap the unit rates you’re charged for gas and electricity, plus the standing charges. So, if you use more energy, you'll pay more - but use less and you'll pay less.
