Families who pay their energy bills by direct debit will be spending an average of £2074 on their gas and electricity from July 1, regulator Ofgem announced this week.
Direct debits are the cheapest way to pay for your energy, with households who pay when they get their bills forking out £2,211 or £137 more per year on average. But it's important to understand how your payments are set and reviewed by your energy supplier and how they arrive at the monthly figure you pay. Even though the new price cap is less than the Energy Price Guarantee (EPG), energy costs are still double what they were at the beginning of the cost of living crisis, so it's important to keep an eye on your payments.
Read more: Save more than £100 by changing the way you pay your energy bill
