Many households will have received a letter informing them their gas and electric bills are going up in April. But why are energy bills still going up at a time when wholesale prices have gone down?
In fact, both wholesale gas and electricity prices have fallen steadily since December 2022, but that drop has seemingly not been carried over into energy bills. The price cap set by regulator Ofgem, which sets energy bills for more than 80% of UK homes, is £3,280 a year as of April 1.
Like many, I received a letter this month from my supplier, E.ON, telling me that my bill is increasing from April. My electric has gone from 33.966p per unit to 33.282p so it's actually gone down. But my standing charge has jumped from 49.168p to 53.826p.
