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Britons face highest price cap in three years as energy bills rise 4% from October
- Regulator Ofgem announced on Wednesday that the energy price cap will increase by 4% starting in October, pushing typical annual household bills to £1723 across England, Scotland, and Wales.
- Volatile international markets and conflict in the Middle East are driving higher wholesale gas prices, while ongoing heatwaves across Europe have increased gas demand for power generation and cooling.
- Energy Secretary Miatta Fahnbulleh defended the increase, stating "Energy is an everyday essential" and citing VAT cuts on electricity bills alongside a £150 warm home discount for 6 million families.
- Criticizing the government, SNP Westminster leader Dave Doogan stated bills have risen seven times under Labour and families now pay £563 more than the £300 reduction promised during the election.
- Analysts at Cornwall Insight forecast the price cap could rise another 9% in January, potentially reaching £1872 annually as wholesale energy pressures persist through the winter months.
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38 Articles
38 Articles
Energy price cap hits three-year high as bills to increase by £60 annually
The regulator said the price cap will rise by four per cent – the equivalent of £5 per month – to £1,723 for the average household using both electricity and gas if this level was sustained for a year.
·Edinburgh, United Kingdom
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Energy Price Cap to Rise by 4% From October
Ofgem has announced the energy price cap will rise by 4% for a typical household from October. Going from an average of £1663 to £1723 a year – a rise of £60… Analysts at Cornwall Insight say this represents the highest cost per unit of energy for the average home in three years. And warned…
·London, United Kingdom
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Total News Sources38
Leaning Left4Leaning Right7Center19Last UpdatedBias Distribution63% Center
Bias Distribution
- 63% of the sources are Center
63% Center
14%
C 63%
R 23%
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