UK gas and electricity prices are set to soar from April 1 following a record breaking increase in the energy price cap.
Energy regulator Ofgem announced that the energy price cap, which is the maximum amount an energy company can charge an average customer, will increase by 54%. For an average household, this means that they will see an annual increase of £693 applied to their bills, although this will vary depending on how much energy your household uses.
Energy providers will be contacting customers this month to explain how these changes will affect them, with bills estimated to increase from £1,277 to £1,971 for an average household.
