From December, energy companies aren’t going to be able to charge you more than £1,136 a year.
What it means: The price you pay for your electricity and gas doesn’t just depend on how many iPhones, microwaves and lava lamps you plug in. It also depends on how good a deal your energy company gives you. And if you can’t remember the last time you went hunting for the best contract possible, you might be being charged at least a bit more than you could be.
The government has come to your rescue. Ofgem, the government regulator that tells energy companies what they can and can’t do, has announced a price cap. They reckon we can all expect to save about £75 a year.
Energy companies are moaning that now they’ll have less money to invest in the sort of whizzy new stuff that they say makes their product and service better. Everyone else is likely to be pleased - who doesn’t like saving money? But some people will say the government is overstepping its role by trying to push people into making better choices.
