Electric prices down substantially today…

Yesterday my electric tariff was 38p per unit. Today it is down to 17p, which is quite a drop, and not far off the 14p it was last year. The reason is the new Energy Price Guarantee scheme has come into effect.

The scheme will cap the price for a unit of gas and electricity until April 2023. Bills will be reduced by up to 19.9p per kilowatt hour (kWh) for electricity and 4.8p/kWh for gas.

The Consumer Council have created a handy price table for all suppliers that you can view here (PDF). You should seriously consider switching suppliers as the savings can be considerable, the Consumer Council also has a handy comparison tool to tell you how much you can save.

Important. If you are on a PAYG electric meter, you must top up to apply the new rate. So top up with a tenner, and you will be sorted.

Some other good news is the price of home heating oil continues to drop, it is now £433 for 500litres.

I don’t think I have ever said anything nice about the government but I have to admit this will make a massive difference to people this winter. Combined with the £400 payment (when we eventually get it) most people’s energy costs should not be too far off what they were paying last year.

Donate to keep Slugger lit!

For over 20 years, Slugger has been an independent place for debate and new ideas. We have published over 40,000 posts and over one and a half million comments on the site. Each month we have over 70,000 readers. All this we have accomplished with only volunteers we have never had any paid staff.

Slugger does not receive any funding, and we respect our readers, so we will never run intrusive ads or sponsored posts. Instead, we are reader-supported. Help us keep Slugger independent by becoming a friend of Slugger.

While we run a tight ship and no one gets paid to write, we need money to help us cover our costs.

If you like what we do, we are asking you to consider giving a monthly donation of any amount, or you can give a one-off donation. Any amount is appreciated.