price cap
Look After My Bills suggests both the frequency and severity of price hikes could reach unparalleled levels this year
The energy supplier will have to make a total payment of £390,000 after charging customers above the price cap
The competition watchdog intends to adjust the methodology used to calculate its prepayment price cap ‘in order to better reflect costs’
That’s an increase of 29% compared to the same month in 2018
Good Energy, Ecotricity and Green Energy can charge consumers above the standard variable tariff rates set by Ofgem
Around four million customers will be affected from April
Around one million customers will see their bills rise by £117 a year on average
Around 1.3m customers will see prices increase by £118 a year on average
The provisional decision and consultation is expected to be published this summer
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