Energy bills have shot up for millions of households today, as the new Energy Price Guarantee replaces the Ofgem price cap.
The Energy Price Guarantee freezes bills for the typical household at £2,500 a year for two years - but this isn’t a total cap on how much you could pay.
Like the old Ofgem price cap, what the new energy scheme will do is cap the unit rates you’re charged for gas and electricity, plus the standing charges.
