On Thursday - November 17 - Jeremy Hunt announced that the Government will increase the energy price guarantee.
The increase will see a typical household's yearly bill raise from £2,500 to £3,000, a 20 per cent rise. As things stand the guarantee saves the average household £1049, with an additional saving of at least £400 due to the flat rate energy payment paid to every household in the country.
The new rate will see households paying more for their bill, with no set payment of £400 to be given. Instead, support will be provided on a means-tested basis. The Cost of Living Payment will be paid to those on specific benefits (£900), pensioners (£300), and people with disabilities (£150). Here is some more information of how the new plans will work for you.
