The Energy Price Guarantee will soon change, affecting many households' finances across the country.
The guarantee was introduced as a temporary measure to protect energy bill-payers from significant increases in wholesale energy prices. It limits the amount that suppliers can charge per unit of gas and electricity.
Initially, the cap was set at £2,500 for an average yearly bill. However, this will be pushed up by £500 from April this year, introducing a new price cap of £3,000. And while it's substantially better than the amount households would pay without backing from the government, it still means that energy bills will become more expensive.
