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On July 1st, the vitality worth cap was lowered to £2074 a 12 months for a typical family – meaning it’s 17% decrease than the Power Value Assure (EPG), which was set at £2500.
In the event you’re like us although, you’ll need to know what this implies in actual phrases – what it means for you and your payments.
Firstly, it’s necessary to keep in mind that the worth cap is definitely a cap on how a lot the vitality corporations can cost per kilowatt of vitality. So should you use extra vitality than the so-called ‘typical family’ you’ll pay extra, and should you use much less, you’ll pay much less.
Nonetheless, the brand new charges do imply that your home equipment will value a bit much less to run. We’ve put collectively a useful desk that sums up the financial savings for the ten most used home equipment round the home so you may see how a lot you would save in actual phrases…
(Disclaimer: All figures are based mostly on common vitality consumption and common wattage of an equipment. Our figures are from AO.com and USwitch as seen in The Solar and The Mirror.)