Millions of households are likely to see another sharp rise in their energy bills when the new energy price cap is announced on Friday. Energy regulator Ofgem is set to announce the new price cap meaning many will see another rise in their costs from October 1, when the new rates come into effect.
In April the price cap skyrocketed by 54% from £1,277 to £1,971 per year for people who pay for their energy via direct debit. The £693 increase was driven by a record rise in global gas prices over the previous six months and a quadrupling of wholesale prices in the previous 12 months.
And experts have warned of an even bigger increase on Friday warning that many more households could be plunged into fuel poverty. Here's everything you need to know about the energy price cap including what it is, what you can expect on Friday, and what financial support is available.
