Britians' energy price cap has risen by 50% today which is what most customers will be paying given that all of the fixed rate deals charge more than even the latest price cap. If you have not already submitted a meter reading that it is still not too late to do so but the sooner you submit the better to avoid energy usage being charged at a 50% higher cost.

So having an accurate read of where customers stand WILL make a difference! Once upon a time the price cap could be ignored but not for the past 6 months as a myriad of energy firms such as Zog Energy dumped their fixed rate customers onto regulators who passed the customers onto firms such as EDF onto their variable rate tariffs that as of writing are some 60% BELOW fixed rate tariffs, so the worst thing anyone can do is to FIX their energy tariffs as even after tomorrows 50% hike, the price cap will still be lower than fixed rate deals, and likely remain so all the way into the next price price cap hike on 1st October when we could see another huge hike of as much as 30% ahead of winter 2022.

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By N Walayat

http://www.walayatfamily.com

Disclaimer: The above is a matter of opinion provided for general information purposes.

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