Energy bills 40% higher despite price cap drop

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New analysis from the Energy and Climate Intelligence Unit (ECIU) shows that despite the expected drop in the energy price cap, the average annual dual fuel bill for a UK household will remain about 40%, or £450, higher than pre-crisis levels.

Since the start of the gas crisis three years ago, the average UK household‘s dual fuel bill has reached £6,800, double the pre-crisis amount.

The government’s energy price guarantee covered over £1,000 of this increase, with households paying the remaining £2,400.

Jess Ralston, an Energy Analyst at the ECIU, said: “Households are still struggling with bills that are hundreds of pounds higher than pre-crisis levels and estimates suggest bills may rise again as we head into winter.

“The UK spent around £100 billion on gas over the past two years. We could have learned lessons from the crisis and insulated our buildings, built more renewables and moved away from gas boilers, but instead home insulation schemes are unambitious, the last renewables auction secured no more offshore wind, and the shift to electric heat pumps has been delayed.”

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