As the announcement is poised for release this Friday 25th August, questions linger about the cap’s efficacy in curbing soaring energy costs.
New analysis of unit costs data reveals stark increases in energy expenses.
Compared to winter 2020/21, gas unit costs have surged 150%, coupled with a 6% rise in daily standing charges.
Meanwhile, electric unit costs have spiked by 67% and daily standing charges have skyrocketed by an astonishing 117%, according to the End Fuel Poverty Coalition.
Compared to the winter before Russia’s 2021/22 invasion of Ukraine, gas unit costs now stand 85% higher, and the gas standing charge has climbed by 11%.
Electric unit costs have risen by 45%, and electricity standing charges have surged by 113%.
A spokesperson for the End Fuel Poverty Coalition commented: “Looking at a year-on-year comparison, any declines in wholesale costs are almost cancelled out by the end of the government’s Energy Bills Support Scheme which means bills stay at similar levels to last year while people have less ability to pay these stubbornly high prices.
“This coming winter will not feel any better than last as energy bills remain at dangerously high levels.”