Energy Price Guarantee
Funding to administer the UK Government’s Energy Price Guarantee (EPG) for the duration of the scheme.
We’re continuing to administer the UK Government’s Energy Price Guarantee (EPG)
In September 2022, the UK Government announced the domestic Energy Price Guarantee.
Through this scheme, the unit cost of gas is reduced for domestic consumers since October last year.
We administer the scheme and make weekly payments to registered Gas Suppliers for the gas consumed in the previous week.
What this involves
This budget will fund the EPG activities for both the duration of the scheme and the ensuing reconciliation period.
These activities include the extraction of data, and the calculation and validation of initial and reconciled payments at Supplier level.
- Suppliers are able to reduce the unit price they charge to domestic consumers.
- Lower bills for domestic consumers, alleviating financial pressure on households.
- Prevents further households from falling into poverty.
- Provision of investment means no impact on other service delivery.
Read our 2023 Business Plan for full business case details
We’ll share quarterly updates on our progress from the end of Q1 for BP23.
Read our 2023 Business Plan to find more information on this business case.
2023 Business Plan - Final Version
The final version of our BP 2023/24 document which sets out our strategic priorities and budget for the next financial year (April 2023 to March 2024) and provides forecasts for the following two financial years (April 2024 to March 2026).
PDF, Last Updated 31/01/2023, 8.2 MB