Energy bill updates LIVE after Ofgem price cap increase and Winter Fuel Payment axe

Welcome to our money blog, where we'll be providing you with the latest updates on everything that affects your wallet - from energy bills, to the latest benefit changes

Millions of households have been hit by higher energy bills after the Ofgem price cap went up again this month.

The Ofgem energy price cap has risen from £1,568 to £1,717 a year for the average dual fuel household paying by direct debit. On top of this, millions of pensioners will no longer receive their Winter Fuel Payment this year after a change in the eligibility rules.

Winter Fuel Payments, which are worth up to £300, depending on your circumstances, used to be available to anyone over state pension age - but now, you must be claiming certain means-tested benefits, such as Pension Credit, to continue receiving this cash.

08:29Levi Winchester

Martin Lewis issues 'fix now' energy warning

Martin Lewis has been urging households to consider fixing their energy tariff - as there are deals out there now that are cheaper than the October price cap. His MoneySavingExpert.com website has flagged the cheapest one-year energy fixes - the top one of which, the Ovo Energy 1 Year Fixed Loyalty tariff, works out 9.9% less than the October price cap on average if you take into account cashback that is available through the MSE website.

The next cheapest on the MSE list is the Outfox the Market Fix'd Dual Oct24 v2.0 tariff, which is 9.6% less, followed by the Octopus Energy 12M Fixed October 2024 v1, which is 8.8% less. Keep in mind that when you fix, what you're fixing is your unit rates and standing charges - so again, your bill can vary depending on how much energy you use.

08:21KEY EVENT

What is the energy Ofgem price cap?

You've probably seen the headlines about energy bills going up again this winter - but what exactly does the Ofgem price cap mean, and how do you know if you're on it? Despite what its name suggests, the Ofgem price cap does not put a limit on how much you can pay for energy.

Instead, it sets a limit on unit rates for gas and electricity, as well as the standing charges, which is what you pay to be connected to the grid. This means if you use more energy, you’ll pay more - or use less, and you’ll pay less. The main Ofgem figure is based on what someone with typical energy usage, who pays by direct debit, can expect to pay.

Around 27 million people are covered by the price cap. You are covered by the price cap if you're on a "default" or standard variable rate (SVR) tariff.