What You Need To Know About The Energy Price Hike

What You Need To Know About The Energy Price Hike

Up to 15 million households across the UK are set to see the biggest increase in energy prices ever from 1st October. Due to soaring global gas prices, Britons can now expect to see the most widely used fixed tariffs increase by around 12-13% in under two months time. 

The wholesale price (the prices that energy suppliers pay for gas) has risen to a record high in Europe. At over 127% increase since summer 2020 to cover their expenses. This means that there will be a £139 energy price cap increase. 

Ofgem has stated that the increase in this price cap comes down to a 50% increase in wholesale gas costs over the last 6 months. Jonathan Brearly, Chief Executive of Ofgem said ”We can’t ask companies to sell energy for less than it costs them to buy it.”

The increase in gas price means a few different things. Gas is becoming a more expensive way to heat your home. Infrared heaters run solely on electric and in 2021, renewables such as wind and solar generated 43% of the UK’s electricity.

The amount of electricity that is generated by renewables is increasing daily and is contributing to the plans of becoming net-zero by 2050. 

Far infrared in general also has one of the lowest energy consumptions for a heating system available on the market today.

So not only are you getting a future-proof heating system ready for the gas boiler ban in 2025, it also means that you’ll avoid the higher end of the price cap and ultimately avoid the price hike in gas. 

If you want to get in touch about far infrared heating in your home or workplace, give us a call on 0300 303 9625 or email us on office@warm4less.com