The Tick Property Blog

Energy Price Guarantee

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2022 has been a tumultuous time for the UK, and with inflation hitting a record high, families and individuals across the nation have been left facing a cost-of-living crisis never seen before.

One of the issues causing the greatest concern has been energy prices. As the costs of wholesale energy faced a massive hike on the global market, and with the UK’s energy stocks lower than usual, suppliers have been passing on the price increases to their consumers. As a result, our energy bills have risen exponentially, and prior to the Government’s intervention it was estimated by a University of York study* that 45 million people would be pushed into fuel poverty. 

The Government have responded to the crisis by introducing the “Energy Price Guarantee”, in place for 2 years from 1st October 2022, which will “freeze” the energy price cap at £2500. Prior to the Government’s announcement, Ofgem, the energy regulator, had confirmed an 80% increase in energy bills from 1st October, leaving consumers facing an annual bill of £3459. 

This was forecasted to rise again in January and April 2023 by analysts at Cornwall Insight, to annual costs of £5386.71 and £6616.37 respectively.

Whilst the Government’s Energy Price Guarantee has caused a sigh of relief to many, the price consumers are paying is still a huge increase from the amount we were paying at the start of the year.

The good news for our tenants at Tick Property Group is that bills can be included in each of our rentals. This means that regardless of price caps and energy freezes, you’ll keep paying the same amount and you can rest easy with the peace of mind that your home will be warm this winter.

To find out more about why Tick should be your Letting Agent of choice, contact our award-winning team today.


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