Ofgem Raises UK Energy Price Cap
Analysis based on 6 articles · First reported Feb 25, 2025 · Last updated Mar 15, 2025
The increase in the United Kingdom — Ofgem energy price cap will lead to higher household expenses across the United Kingdom, potentially reducing consumer discretionary spending and impacting inflation. Energy companies like Centrica — British Gas may see increased customer engagement as households seek fixed deals to mitigate rising costs.
United Kingdom — Ofgem has announced a 6.4% increase in the energy price cap, effective from April 1 to June 30, raising the average annual energy bill for households in the United Kingdom to £1,849. This marks the third consecutive increase in recent months, attributed to rising wholesale costs and inflation. Jonathan Brearley, CEO of United Kingdom — Ofgem, acknowledged the challenge for households and stressed the importance of investing in a cleaner energy system. Experts from Cornwall Insight predict a slight fall in energy bills from July, influenced by geopolitical developments such as talks between the United States and Russia regarding the Ukraine war. Consumer groups like Which? and companies like Uswitch are advising households to explore fixed-rate deals from suppliers like Outfox Energy and Centrica — British Gas to potentially save money against the new cap.
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