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Areas in Scotland that will see biggest savings under new energy price cap
Read on to find out if your local area made the list
BILL BOOST Areas in Scotland that will see biggest savings under new energy price cap
TWO Scottish locations have been named among the top ten areas that will see the biggest savings under the new energy price cap.
The new Ofgem price cap is set to come into force next month, and millions of homeowners have been warned to submit their meter readings by June 30 as a result.
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Homeowners are set to see their energy bills decrease from next month
Credit: Alamy
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It comes as a new price cap kicks in on July 1
Credit: PA
Costs are set to decrease from July 1 as the price cap, set by the national energy regulator, goes down by seven per cent.
Ofgem resets its cap on the amount suppliers can charge every three months.
And the latest change - from £1,849 to £1,720 on July 1 - represents a seven per cent decrease on the current level.
It will mean that most households will see a decrease in their annual energy bills.
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However, experts at UKEM have found that some areas across the UK will see bigger savings on their energy bills than others.
So, in a bid to help, they have compiled a list of ten areas across the UK that will benefit most from the new energy price cap.
And they found that two Scottish locations ranked high in the list.
At the top of the list is the City of London - the only area in Inner London to make the top ten.
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Residents here are set to save £76.80 on their energy costs as their annual bills drop from £1,597.50 to £1,520.70.
Coming in at a close second, locals in Argyll and Bute will see savings of £70.60 on their annual energy bills.
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With an average consumption of 5,429.20 kWh per household, bills will decrease from £1,467.50 to £1,396.90 when the new price cap comes into effect.
The Highland region of Scotland places third, with households set to save £67 annually.
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At the moment, locals here currently pay £1,393.10 a year based on their average consumption of 5,153.80 kWh.
And that is set to drop to £1,326.10 under the reduced price cap.
Cotswold comes next, with residents projected to save £64.10 on their energy bills.
Here, the average household consumption is 4,934.30 kWh, and has a current annual cost of £1,333.70.
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The fact that two Scottish regions feature in the top five isn't coincidental. Scotland's rural areas combine the worst of all worlds: harsh winters and higher electricity distribution costs
Nina Copeland
This is expected to decrease to £1,269.60 when the new cap is implemented.
Elmbridge and South Hams tie for fifth place, with households saving £60.80 annually.
In Elmbridge, residents currently pay £1,263.70 annually based on their average consumption of 4,675.20 kWh, which will reduce to £1,202.90 under the new price cap.
In South Hams, the average consumption is 4,676.40 kWh per household, which means that current annual costs of £1,264 will fall to £1,203.20 when the new price cap takes effect.
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South Oxfordshire takes sixth place, with households set to save £60.50 a year.
With an average household consumption of 4,655.70 kWh, current annual bills stand at £1,258.40, but will drop to £1,197.90 under the new price cap.
In Waverley, residents will benefit from £60.20 in annual savings. Based on an average consumption of 4,631.90 kWh per household, bills will fall from £1,252 to £1,191.80.
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Uttlesford comes in eighth, with a projected saving of £59.10 per household. Residents currently pay £1,229.20 annually on average energy use of 4,547.70 kWh, but this will decrease to £1,170.10 under the updated cap.
In ninth place is King's Lynn and West Norfolk, where households will save £59 a year. With an average consumption of 4,541.50 kWh, annual bills will reduce from £1,227.60 to £1,168.50 once the new cap takes effect.
Cornwall rounds out the top 10, with households set to save £58.80 annually under the new price cap.
Full list of areas that will benefit most
HERE is the full list of UK areas that will benefit most from the new energy price cap.
1. City of London - savings of £76.80 (annual bill dropping to £1,520.70)
2. Argyll and Bute - savings of £70.60 (annual bill dropping to £1,396.90)
3. Highlands - savings of £67 (annual bill dropping to £1,326.10)
4. Cotswold - savings of £64.10 (annual bill dropping to £1,269.60)
=5. Elmbridge - savings of £60.80 (annual bill dropping to £1,202.90)
=5. South Hams - savings of £60.80 (annual bill dropping to £1,203.20)
6. South Oxfordshire - savings of £60.50 (annual bill dropping to £1,197.90)
7. Waverley - savings of £60.20 (annual bill dropping to £1,191.80)
8. Uttlesford - savings of £59.10 (annual bill dropping to £1,170.10)
9. King's Lynn and West Norfolk - savings of £59 (annual bill dropping to £1,168.50)
10. Cornwall - savings of £58.80 (annual bill dropping to £1,163.80)
With average energy consumption at 4,523.10 kWh per household, current annual bills of £1,222.60 will fall to £1,163.80 starting in July.
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Nina Copeland, director of sales and support at UKEM, commented on the findings, "This data shows the different patterns in energy usage in the UK, and ultimately how structural disadvantages can impact households across Britain.
'The fact that two Scottish regions feature in the top five isn't coincidental.
"Scotland's rural areas combine the worst of all worlds: harsh winters, limited gas infrastructure, older housing stock and higher electricity distribution costs.
"The City of London anomaly at 5,910 kWh is intriguing, and it could reflect mixed-use buildings or older commercial properties with residential elements.
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'The southern English areas likely represent a different challenge: larger, older properties where residents can afford high consumption, but buildings remain inefficient.
"In these areas, no matter the reason, high energy consumption leads to higher bills.
"But many people in these high-use regions may also qualify for support through government energy efficiency schemes like ECO4, which could help lower their usage and costs even further.'
