What does today's budget mean for household fuel bills?
City-REDI research fellow, Dr Annum Rafique, discusses the implications of the budget on energy costs.
"The Chancellor has announced that the energy price guarantee will remain unchanged at £2,500 till June 2023. In the meantime, the household winter discount of £400 on energy bills will run out on 1st April 2023. This means that energy bills will rise between April and June 2023 to accommodate for the previous winter discount of £66/£67 per month received between October 2022 and March 2023.
"Customers who prepay for their energy pay more than households paying through direct debit. From 1 July, the penalty on prepayment will end, saving around £45 a year for four million households."
Annum Rafique, City-REDI
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Notes for editors
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