A government Energy Price cap comes into effect today, 1st January 2019.
The move aims to clamp down on the BIG SIX energy providers raising prices so frequently and by placing a cap on the tariffs limiting what they can charge for electricity and gas, further competition is likely.
Economists have suggested it will benefit millions of people in the UK, with some households saving up to 8% – 10% of their monthly bills, where some companies will be forced to lower prices with immediate effect.
An annual cap will stay in place until 2020 and could be extended to 2023 if the energy market does not become competitive enough.
For further information, please contact your energy provider.