Energy bills: New chart shows how much each type of home will save under new plan | Personal Finance | Finance
The chart shows that a family living in a detached property on typical use would have paid £4,700 on energy bills under the October price cap. However, this will be frozen at £3,300 – a saving of £1,400.
A family who lives in a mid terrace property will save £950 a year under the new plans because the cap will be frozen at £2,350 instead of the £3,300 which it would have risen to on October 1.
While today’s announcement will provide welcome relief to millions of British households, some don’t think it goes far enough.
Gareth Kloet, energy spokesperson for Go.Compare Energy, said: “Today’s announcement will undoubtedly provide some relief for bill payers across the UK – the eye-watering Price Cap increase – from £1,971 to £3,549 – that was due to come into force on October 1st was untenable and action needed to happen.”
READ MORE: Energy price cap freeze – everything you need to know
