Major energy providers have announced their new tariffs- adding hundreds of pounds to household bills ahead of the increase of the price cap next month.
Regulator Ofgem announced earlier this year that the price cap would be shooting up to 54 per cent, adding £693 a year onto the average household bill. The price cap sets a limit on the rates a supplier can charge for each unit of gas and electric and is currently renewed twice year.
That will total up to £1,971 from £1,277 - a huge hit to households. Those on pre-payment meters will see £708 extra onto their yearly bill. The price cap sets a limit on the rates a supplier can charge for each unit of gas and electric and is currently renewed twice year.
