Ofgem: Average household energy bill to increase by 10 per cent from October
The average household energy bill is to increase by 10% from October after Ofgem said it was increasing its price cap as households approach the winter months. The regulator announced it is hiking its price cap from the current £1,568 for a typical household in England, Scotland and Wales to £1,717, adding around £12 a month to an average bill.
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00:00Hello, my name is Greg Wright. I'm the Deputy Business Editor of the Yorkshire Post and here are your headlines for this morning.
00:08The average household energy bill is to increase by 10% from October after Ofgem said it was increasing its price cap.
00:18The regulator announced it is increasing its price cap from the current £1,568 for a typical household in England, Scotland and Wales
00:29to £1,717, adding around £12 a month to an average bill.
00:37However, it is around £117 cheaper than the cap in October last year, which was set at £1,834.
00:47Ofgem said rising prices in the international energy market due to heightened political tensions and extreme weather was the main reason behind the decision.
00:58My name's Greg Wright and I'm the Deputy Business Editor of the Yorkshire Post.