October 2022 Energy Price Cap.
Today, Ofgem announced the new energy price cap that will come into effect on the 1st of October. Prices were predictable but still felt like a low blow as autumn quickly approaches.
From the 1st of October 2022, for those on the energy price cap prices will rise by a staggering 80%. This time last year gas was just 3p per kWh but from 1st October this will rise to 14.8p per kWh. Electricity will rise to 51.9p per kWh from 28.34p per kWh.
My prediction was out by around 1p per kWh for gas, the rest I got on the nose! Martin Lewis has been tweeting the Cornwall Insights prediction for the last few weeks. The question is if a middle-aged housewife can predict these rises and worry about the impacts why can’t the government!!!
I have been worrying about the energy crisis for at least the last year! I couldn’t have predicted they would rise this far. I didn’t envisage Russia would invade Ukraine but someone with some foresight in Whitehall must have! They should have, in my view, made provisions for this!
@sarah_go_green Th #energypricecap has been announced for October 2022. Prices are rising. I’ll share #energyprice information and info #howtosavemoney. #gasprices ♬ original sound – sarah_go_green
Greg Jackson the CEO of Octopus Energy has suggested that the UK public shouldn’t be expected to foot the bill for a war-like situation with Russia and I agree!! I hope in 10 days’ time when the government reconvinces I hope we see some action!!!!