Household Bills
Energy bills likely to fall next year
29/11/2019
Energy customers should see a reduction in their bills next year after the regulator significantly reduced the amount of revenue network companies will be able to make.
As part of its network price controls which sets out how much revenue networks can make, Ofgem has cut this figure by almost £1bn for 2020/21.
Based on gas and electricity transmission and distribution costs, Ofgem has reduced the allowed revenues collected to £965m.
This should save customers money on their energy bills next year, though not all of this amount will be reflected on consumer bills.
The regulator said the reduction is due to lower interest rates in debt markets and because on the whole, network companies are spending less than expected. As a result, Ofgem can make a proportionate reduction to their allowed revenue. Network companies get their funding from Ofgem.
There are 0 Comment(s)
If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.
ISAs: your back-to-basics guide for 2018/19
Here’s everything you need to know to make the most of your unused ISA allowance ahead of the 5 April deadli...
A guide to Sharia savings accounts
A number of Sharia savings products have upped their game in recent months, beating more familiar competitors ...
Five ways to get on the property ladder without the Bank of Mum and Dad
A report suggests the Bank of Mum and Dad is running low on funds. Fortunately, there are other options for st...
What will happen if rates change
How your finances will be impacted by a rise in interest rates.
Regular Savings Calculator
Small regular contributions can build up nicely over time.
Online Savings Calculator
Work out how your online savings can build over time.
Having a baby and your finances: seven top tips
We’re guessing the Duchess of Cambridge won’t be fretting about maternity pay or whether she’ll still be...
Protecting family wealth: 10 tips for cutting inheritance tax
Inheritance tax - sometimes known as 'death tax' - can cause even more heartache for bereaved families. But th...
Travel insurance: Five tips to ensure a successful claim
Ahead of your summer holiday, it’s important to make sure you have the right level of travel cover or you co...
© AE3 Media Ltd, Floor 7, Lincoln House, 296 - 300 High Holborn, London WC1V 7JH, Company.