From July 1, 2023, UK households using electric ovens will see an increase in energy costs, with an estimated annual charge of £36.50 due to a 13% rise in the energy price cap set by Ofgem. This change is attributed to higher wholesale gas prices linked to geopolitical tensions.

• 01Ofgem announced a 13% increase in the energy price cap, raising the average cost to 26.11p per kilowatt hour (kWh).
• 02Households using electric ovens will incur additional costs, estimated at £36.50 annually, based on usage patterns.
• 03Electric ovens typically consume about 0.89 kWh per use, costing approximately 9p per day under the current cap.
• 04The daily standing charge for electricity will decrease slightly to 57.19 pence from July 1.
• 0540% of UK energy accounts are on fixed tariffs, insulating them from the upcoming price increase.

Households using electric ovens will see an increase in their energy bills, affecting their overall household expenses.