Good morning E.ON Next Community 👋
You may have already seen it on TV or read about it in the news already but if not don't panic - here's everything you need to know about the Ofgem 1 January energy price cap 2025.
Ofgem has announced the latest price cap information this morning and the price cap is rising again by 1.2%. Please keep in mind that although the announcement was made this morning, the new rates won't be in effect until 1 January 2025 to 31 March 2025, so you won't see these prices on your bills until 2025.
The government introduced the price cap in 2019 to protect consumers from paying too much for their energy. It's set by the energy regulator Ofgem & it's reviewed four times a year.
The current price cap (1 October 2024 - 31 December 2024) sits at £1,717 however from 1 January 2025 it will change to £1,738.
Here's a breakdown:
🌟 Energy prices are rising, should I fix my tariff?
🌟 What's happening with your bills?
🌟 What is the energy price cap?
If you find you're struggling you can get in touch with one of our Energy Specialists who can support you. You can find all of our contact information by visiting this thread 👉 How to contact E.ON Next
You may have already seen it on TV or read about it in the news already but if not don't panic - here's everything you need to know about the Ofgem 1 January energy price cap 2025.
Ofgem has announced the latest price cap information this morning and the price cap is rising again by 1.2%. Please keep in mind that although the announcement was made this morning, the new rates won't be in effect until 1 January 2025 to 31 March 2025, so you won't see these prices on your bills until 2025.
What is the price cap?
The price cap sets the maximum price per unit an energy supplier can charge for your energy, the limit also applies to standing charges. The level of the cap is based on a typical household's annual usage however, you may pay more or less depending on your own energy consumption ⚡The government introduced the price cap in 2019 to protect consumers from paying too much for their energy. It's set by the energy regulator Ofgem & it's reviewed four times a year.
The current price cap (1 October 2024 - 31 December 2024) sits at £1,717 however from 1 January 2025 it will change to £1,738.
How does this compare to the previous price cap?
As mentioned above the price cap (1 October 2024 - 31 December 2024) currently sits at £1,717 however from 1 January 2025 it will change to £1,738.Here's a breakdown:
Will I be affected by the price cap?
If you've got a fixed tariff with us, then it won't affect you (unless your tariff ends within the price cap period) however the price cap will change things for customers on Next Flex - our standard variable tariff and those of you on Next Pledge - our E.ON Next tracker tariff (Next Pledge prices are guaranteed to stay £50 below the price cap!).Where can I find more information?
Ofgem announced the new price cap today (22 November 2024) however we will be keeping this thread updated if there are any changes. Alongside this thread, you can also check out our blog & website too for further updates.🌟 Energy prices are rising, should I fix my tariff?
🌟 What's happening with your bills?
🌟 What is the energy price cap?
Is there any other support available?
We understand that this may be a worry for some of our customers in the current climate however please remember there's lots of support available and we want to help you stay on top of your energy bills. Check out A helping hand - Extra support with the cost of living 🤗 which outlines all the support we offer. We also have the Winter Support Scheme 2024 available to support our most vulnerable customers.If you find you're struggling you can get in touch with one of our Energy Specialists who can support you. You can find all of our contact information by visiting this thread 👉 How to contact E.ON Next
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