City of London energy bills among the cheapest in the capital
City of London residents have the third-cheapest energy bills in the capital according to new research from Boiler Central.
The heating experts used ONS data to establish the energy prices of the square mile and all the surrounding boroughs.
It determined that City households pay £474 every year for their energy needs, which is £142 below London’s average of £616.
Only residents in Tower Hamlets (£360) which has the cheapest energy bills, and Newham (£458), pay less every year to consume energy.
By contrast, Havering households suffer the capital’s most expensive bills, paying an eye-watering £780 every year.
This is £164 more on energy than the London average,.
Bromley has the second-highest energy bills in London, with the average household paying £775 a year towards energy costs.
Bexley (£748), Kingston-upon-Thames (£733), and Harrow (£732) round off the top five.
| London borough | Rank | Average annual energy bill (£) |
| Tower Hamlets | 1 | 423 |
| Newham | 2 | 458 |
| City of London | 3 | 474 |
| Hackney | 4 | 486 |
| Southwark | 5 | 504 |
The released data follows Ofgem’s announcement of a 54 per cent hike in annual energy bills, with the price cap set at £1,971 per year for average use.
The energy market has been battered by historic market shocks, amid soaring wholesale gas prices.
Since September, 26 suppliers have ceased to trade, while Bulb Energy has entered de-facto nationalisation in the biggest state bailout since RBS in 2008.
Prices are unlikely to come down any time soon, with trade body Energy UK and analysts Cornwall Insights both warning of a further hike in the spring.
Dr Lowrey, consultant at Cornwall Insight said: “Our current forecast for the Winter 2022-23 default tariff price cap stands at approximately £2,240 per annum, although we note that this figure may face considerable change before it is formally announced in August 2022.”
Myles Robinson, a spokesperson for Boiler Central said: “With energy bills already sky-high and soaring by a further £600 in spring, the stark energy costs divide across London – where households with the highest bills pay over £250 more than those with the cheapest bills – will concern many households who are already struggling to make ends meet.