Energy bill mistake costing Britons £248 in savings as millions brace for Ofgem price cap hike

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Energy bill mistake costing Britons £248 in savings as millions brace for Ofgem price cap hike.

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A common energy bill mistake is costing Britons up to £248 in savings as millions brace for the upcoming Ofgem price cap hike.This morning, the UK's energy regulator confirmed the energy price cap will increase by 13 per cent to £1,862 annually from July 1, with additional rises forecast for the autumn months.Gas prices are bearing the brunt of the increase, jumping 27.7 per cent compared to a more modest 5.8 per cent rise for electricity.Under the new rates, households will pay 7.33p per kilowatt hour for gas, up from the current 5.74p.

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Electricity costs will climb from 24.67p to 26.11p per kWh.Despite potential savings of £248 available through fixed tariffs, research from Uswitch.com reveals that just one in seven households on standard deals intend to switch before the July price hike takes effect.The comparison service found that nearly two-thirds of those on standard tariffs remain unaware that their rates will rise next month.Adding to the confusion, approximately one in ten...

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