Utilities

We've been warning about big energy price hikes for months, but the harsh reality hits home today (Friday 1 April), as about 22 million households will see a massive jump of an average £700/year on their energy bills, as the new price cap kicks in – with most suppliers pricing their standard tariffs on or near the max allowed. Unfortunately, due to the dire state of the energy market, most still can't save by switching. Here's what you need to know.

Customers of the gas and electricity provider Extra Energy, which stopped trading last week, are being transferred to Scottish Power.

Big six energy supplier SSE has agreed to pay £700,000 to Ofgem after missing its 2018 targets for installing smart meters. 

Octopus Energy will take on all 300,000 customers supplied by Co-op Energy, GB Energy and Flow Energy after a buyout was agreed – if you're with one of these firms, here's what you need to know.

Gas prices are set to fall for just over 200,000 customers in Northern Ireland from the start of next month, as both SSE Airtricity and Firmus Energy have announced price cuts, which will take £100+/year off a typical bill.

Hundreds of thousands of Sainsbury's Energy customers have been moved to British Gas – if you've been transferred, check NOW if you can save £300+/year by switching to a new tariff. 

Big six supplier E.on has become the first energy provider to reveal its prices under the new cap on standard tariffs, reducing bills by a typical £77/year from October – just £2/year under the new level. But don't be fooled, most could still save £100s/year by switching. 

EDF Energy has been appointed by regulator Ofgem to take on Solarplicity's 7,500 domestic customers after the firm stopped trading.

Customers of gas and electricity provider OneSelect, which stopped trading earlier this week, are being transferred to Together Energy.

Millions of customers stuck on expensive standard tariffs should start to see lower energy bills as Ofgem's new price cap kicks in today, though most could save about £200/year more by switching supplier.