The new energy price cap will come into effect from April, hitting a record high level which will see domestic consumers paying over 50% more per year in their energy bills. Although much of this increase is driven by rising wholesale prices, Third Party Charges (TPCs), reflecting non-commodity energy costs, are also set to rise for domestic consumers in 2022-23. In this ‘Chart of the week’, we explore how our forecasts of domestic TPCs are set to change between financial years 2021-22 and 2022-23 and assess the components driving the large jump in costs for these users.
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