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Following a recent surge in energy market prices, Ofgem has revealed that the national cap on electricity and gas charges will rise by £111 from April to an average of £1,849 per annum for a typical household. The cap on electricity unit prices will rise from 25p/kWh to 27p/kWh, while gas will jump from 6.34p/kWh to 6.99p/kWh.
The third consecutive hike in as many announcements, the move means that Brits will pay roughly £600 more for energy annually than they did three years ago. Even more concerningly, continued market volatility means that energy consultants are already predicting further increases ahead of winter.
Commenting on the announcement, Lee Sutton, co-founder and chief innovation officer at myenergi, said: “While the energy price cap was always expected to increase in April, market volatility means that rates have gone up far higher than predictions initially suggested. It’s a frustrating situation and one that puts further pressure on UK households.
“Energy secretary Ed Miliband has spoken out to blame global fossil fuel markets for the hike, suggesting that the most robust strategy to bring down bills for good is to deliver upon the government’s mission to make Britain a clean energy superpower. He’s absolutely right, but consumers are becoming increasingly impatient with the market’s continued fragility, which is leading them to look into alternative solutions.
“As a result, we’re seeing record numbers of households embrace renewables. The adoption of microgeneration, such as solar PV, hit record rates in 2024, with more than 220,000 systems fitted in less than 12 months. Indeed, panels are now said to be installed on the roofs of 1.4 million UK homes.[1]
“While self-generating renewable energy was historically seen as a novel and often expensive solution, the market has developed fast. Indeed, Which? suggests that you can now purchase and install a 3.5kWp solar array for around £5,500 – enough to provide sufficient power for a family of four. Granted, it requires initial investment, but once you’ve completed the payback period, your property benefits from clean, green, free energy for life.
“To make the proposition even more attractive, you can specify smart technologies to help you use 100% of self-generated renewable energy within the home. At myenergi, for example, we manufacture an innovative range of devices proven to maximise self-consumption while cutting carbon and slashing energy bills simultaneously.
“From our solar-compatible EV charger zappi, to our eddi power diverter and libbi modular smart battery, our products can be installed individually, or as an integrated ecosystem controllable via the myenergi app.
“Following Ofgem’s price cap announcement, we’re likely to see interest in renewable generation and self-consumption increase even further. Households are tired of waiting for the next round of bad news. They want stability, security and self-sufficiency. This is precisely what microgen offers.
“As the UK continues to battle energy price volatility, we must heed Mr Miliband’s advice on the fossil fuel market. As a nation, we’ve become far too reliant on just one solution. The future of our energy landscape is set to become increasingly distributed, decentralised and decarbonised. Microgrids, microgeneration and self-consumption of renewables will prove pivotal to reducing reliance on fossil fuels, as well as safeguarding households against global market pressures.
“Rising energy prices and the third successive price cap hike clearly boost the argument for microgen, but households are already a long way down the road. It’s pleasing to see consumers taking matters into their own hands and harnessing renewables to help take control of their energy footprint.”
[1] https://www.sunsave.energy/solar-panels-advice/solar-energy/statistics
