Energy prices for millions of UK households will rise by 80 per cent from October which means that people on a standard tariff, paying their dual fuel bills by Direct Debit, will see annual costs go up from £1,971 to £3,549. Ofgem made the official price cap announcement on Friday which will also push annual prepayment meter bills up to £3,608, a rise of 78 per cent.
The cap will come into effect on October 1, but Ofgem warned that some suppliers could start to increase direct debits before then to spread costs. The industry regulator, energy sector and charities were immediately united in calling on the UK Government to increase its support for households who are facing the bleakest of winters, but nothing can be done until a new prime minister takes up the post on September 5.
However, research from Norton Finance has ranked six of the most cost-effective energy-saving home improvements, with the cheapest starting from just £3.
