Energy bills in Great Britain to rise by 5% from January as cap hits £1,928

The maximum price charged energy customers was £1,834 a year. Photograph: Jacob King/PA

Households will begin the new year with a 5% increase in energy bills after the regulator raised the price cap to an average of £1,928 a year for the typical gas and electricity bill.

Ofgem raised the maximum price that energy suppliers can charge their customers from £1,834 a year for the typical household between October to December, after a rise in global gas market prices after the start of the Israel-Hamas war last month.