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The Guardian - UK
The Guardian - UK
Business
Larry Elliott Economics editor

Energy cap leap looks to be moment when UK recession fears turn into reality

A general view of a household energy bill displayed on a mobile phone held next to a gas hob.
Current support packages anticipated a price cap in October of £2,800, not the £3,549 Ofgem has announced. Photograph: Yui Mok/PA

The phoney war is over and the real struggle for the economy is about to begin. That is the brutal reality facing the UK as gas and electricity bills rocket this winter.

For months it has been clear the energy regulator for Great Britain, Ofgem, would raise its price cap from just under £2,000 a year to about the £3,500 mark and it has duly announced an 80% increase.

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