Energy bills to rise by 10 per cent as regulator announces price cap for gas and electricity will soar by £149 to £1,717 a year in October
Energy bills are set to rise by 10 per cent after regulator Ofgem announced it was increasing the price cap for gas and electricity bills.
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.
However, it is around £117 cheaper than the cap in October last year, which was set at £1,834.
The price cap sets a maximum price that energy suppliers can charge consumers in England, Scotland and Wales for each kilowatt hour (kWh) of energy they use.
While the cap does not limit a household's total bills, increasing it could see people going into the colder months facing higher bills than they have had since earlier in the year.
https://www.dailymail.co.uk/news/article-13771839/Energy-bills-rise-10-cent-regulator-announces-price-cap-gas-electricity-soar-149-1-717-year-October.html
Energy bills are set to rise by 10 per cent after regulator Ofgem announced it was increasing the price cap for gas and electricity bills.
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.
However, it is around £117 cheaper than the cap in October last year, which was set at £1,834.
The price cap sets a maximum price that energy suppliers can charge consumers in England, Scotland and Wales for each kilowatt hour (kWh) of energy they use.
While the cap does not limit a household's total bills, increasing it could see people going into the colder months facing higher bills than they have had since earlier in the year.
https://www.dailymail.co.uk/news/article-13771839/Energy-bills-rise-10-cent-regulator-announces-price-cap-gas-electricity-soar-149-1-717-year-October.html
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NewsTranscript
00:00But what we're announcing today is a 10% increase in the price cap.
00:03That's the regulated price that we lay out that says that's the maximum a company can charge
00:08if you're not in the wider market, if you're not on, for example, a fixed deal.
00:11Now, the reason we're making that change is those price increases are driven by the
00:16increase in cost in the international gas that we buy.
00:19And as an energy system, we spend a great deal of our, sort of, proportion of our bill
00:23on gas to provide our electricity and our heating.
00:26And until that changes, we will be in a similar position.