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Britons face highest price cap in three years as energy bills rise 4% from October
Ofgem said the typical household will pay £60 more a year as higher wholesale gas prices and volatile markets continue to drive bills.
- 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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53 Articles
53 Articles
British energy price cap to rise 4% as Iran war pushes up costs
·London, United Kingdom
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Martin Lewis explains what Ofgem price cap rise means for you
Martin Lewis has explained what Ofgem price cap means for households, offering advice to consumers facing higher bills this winter. Speaking on Good Morning Britain on Wednesday, 26 August, the money saving expert stressed that the price cap only applies if customers are on their firm's standard variable tariff. “ If you're already on a fix, if you're already locked into a special deal, this does not affect you,” he said. “A fix is a fix. Your d…
·London, United Kingdom
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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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Total News Sources53
Leaning Left6Leaning Right8Center28Last UpdatedBias Distribution67% Center
Bias Distribution
- 67% of the sources are Center
67% Center
14%
C 67%
R 19%
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