UK Energy Price Cap Forecast to Rise by £258 from July 1 Amid Support Initiatives

The Ofgem price cap is forecast to increase by £258 to £1,899 annually from July 1, according to Uswitch predictions based on E.ON Next data. Cornwall Insight analysts said the price cap could climb to £1,929. The current Ofgem price cap stands at £1,641. The typical working-age household will be £480 worse off this year due to rising energy costs, according to the Resolution Foundation.

is continuing its Extra Support Package, which is valued at £56million.

The package includes reductions to direct debits, emergency credit top-ups, and extended repayment plans for customers in debt. OVO customers may receive free energy-saving items such as electric throws, mattress toppers, and home efficiency kits. Eligible OVO households could qualify for energy efficiency upgrades through ECO4, including loft insulation, new boilers, and heat pumps.

Some OVO customers may receive a full package of energy efficiency improvements at no cost.

Energy Assist Fund Octopus Energy operates an assist fund that provides direct financial support to customers experiencing difficulties.

Applications to the Octopus Energy assist fund are open year-round. Customers are required to provide details of their financial situation, including income and outgoings.

The British Gas Energy Trust offers an Individuals and Families Fund for those in energy debt. The scheme, launched in 2021, is open to all households, not only British Gas customers. Prepayment meter users may be eligible for grants ranging from £50 to £1,700, provided they have received money advice within the past six months.

Applicants who have received a grant from the British Gas Energy Trust within the last two years are not eligible.