The energy price cap is expected to rise in October to around £2,800. The stark warning came from Ofgem chief executive Jonathan Brearley who was speaking to the Business, Energy and Industrial Strategy Committee.
He said: “I am afraid to say conditions have worsened in the global gas market since Russia’s invasion of Ukraine. Gas prices are higher and highly volatile. At times they have now reached over 10 times their normal level
“I know this is a very distressing time for customers but I do need to be clear with this committee, with customers and with the government about the likely price implications for October.
