However, for others it may end up making more financial sense to stay to the normal standard tariff and remain protected by the energy price cap.Īccording to a recent estimate from analysts at Cornwall Insight, average prices could increase to £4,649 come January, when another price cap is set. Unfortunately, there is no easy way to answer this question, since the energy market is extremely erratic and could continue to change.įor example, if you decided to move to a fixed tariff now, it could potentially protect you from the next energy price cap increase (set to come into force in January 2023). The aim of this is to increase the UK’s domestic supply of gas and oil and hopefully help ease the current energy crisis. ![]() This will also be in conjunction with a new task force, the Gas and Oil New Project Regulatory Accelerators, providing support to new developments. The proposal includes plans to launch a new licensing round of exploratory gas and oil projects in the North Sea for Autumn 2022. In response to the current energy crisis, the UK government recently published their Energy Security Strategy, which outlines how they intend to improve the countries energy mix and decrease reliance on imports over the coming decades. Unfortunately, the UK is not in a position to rely entirely on renewables like wind power and so the only option is to ride the wave. There are many reasons for the skyrocketing price of energy in the UK and you may have noticed it’s a global issue impacting every country that relies on gas and oil imports.ĭue to Russian Gas and Oil being cut from the normal supply, this has led to an international shortage and due to many countries now looking for alternative providers, this has led to a surge in demand and in turn prices.Ĭheck out our complete guide to UK gas imports if you are interested in learning more about where the UK get it’s gas from. ![]() AreaĪverage variable unit price in 2021 (p/kWh) ![]() The table below shows you how much electricity costs per kWh based on location (please not that these costs do not include VAT at 5%, if you would like to add VAT, multiply the number by 1.05). Unit Cost of Electricity per kWh, by UK RegionĪ lot of people assume that the price of electricity per kWh is the same throughout the UK, but in fact it varies slightly depending on where you live. To find out more about what you can expect to pay, check out our complete guide on appliance running costs and our guide on the average electricity costs per kWh from October onwards.
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