Why Energy Bills Might Go Up Again

Energy bills are expected to go up again from July, and many households across the UK could start paying more each month for gas and electricity.

Experts are warning that the energy price cap could rise by around 13%. The price cap is set by Ofgem and limits how much energy companies can charge people on standard tariffs. It does not cap your full bill, so the more energy you use, the more you still pay.

For the average household, this could mean paying around £18 more every month. Over a year, that could add hundreds of pounds onto household costs at a time when many families are already feeling pressure financially.

Food shopping, childcare, holidays and everyday costs are already higher than many people are used to. Another rise in energy bills could make budgeting even harder for some households heading into the second half of the year.

The increase is mainly being caused by rising gas prices around the world and ongoing uncertainty in global energy markets. While prices had started to settle earlier this year, forecasts now suggest bills could begin rising again this summer.

Some households are already checking whether switching to a fixed tariff could help protect them from future rises. Others are reviewing their monthly budgets now to try and prepare ahead of autumn and winter.

The important thing is not to ignore it. Knowing what changes are coming can help you plan ahead and feel more in control of your money.

Many people are still feeling stretched financially, and you are not alone if things feel tighter than they used to. Planning ahead is key to staying in control and managing the rising household pressures. Small steps now could help make the months ahead feel more manageable.

Our Wellbeing Hub is a free place to get help and support with your money. Whether you want to lower your energy bills, check for benefits you may be missing, manage your budget better or see if a Penny Post loan could help, we’re here to help.