The average UK household is inadvertently splurging £250 more than they need to be for their electricity each year, through a sole little-known industry rule.
Energy suppliers currently pay the highest price for wholesale electricity as it stands - no matter how it is manufactured - and according to climate group Carbon Tracker Initiative (CTI), this means that UK residents overpaid on their energy by some £7.2billion across 2021 and 2022.
A recent report which has been released by the group details how the price for supply companies like Eon, OVO and SSE is determined through a bidding process - with generators imposing the highest bid on electricity, regardless of the method of its production.
