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Domestic Energy Relief Scheme Summary
Sep 13, 2022
Update on UK Domestic Energy Crisis Support
(as of 25 October 2022)
- UK Gov has introduced “Energy Price Guarantee” for the domestic sector.
- Typical household will now pay no more than £2,500 a year for the next 6 months from 1 October 2022. This will save consumers around £1000 per year, £150 of which will come from temporary suspension of green levies.
- ¨ If you’re on a domestic standard variable tariff, the average unit price for dual fuel customers paying by direct debit will be limited to 34.0p/kWh for electricity and 10.3p/kWh for gas, inclusive of VAT, from 1 October.
- ¨ If you’re on a domestic fixed tariff at a higher rate caused by recent energy price rises, your unit prices will be reduced by 17p/kWh for electricity and 4.2p/kWh for gas.
- Newly agreed contracts will also be capped at the Energy Price Guarantee if priced above the cap price.
- The scheme will not be funded through by a windfall tax.
- Further details to be released following the imminent meeting of Parliament this week.
- For information on the non-domestic relief scheme, see our blog post at https://www.paschali.co.uk/commercial-energy-bill-relief-scheme-summary
- Information can be found here:
https://www.gov.uk/government/publications/energy-bills-support/energy-bills-support-factsheet-8-september-2022
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