Ofgem, the energy regulator, has announced it is raising the energy price cap by 54 per cent. The increase will come into effect from April 1.
The cap is going from £1,277 to £1,971 per year - meaning millions of people will see their bills soar.
The rise is happening because the wholesale price for gas - the amount our suppliers like British Gas have to pay the producers who extract the gas, such as Shell - is so high right now. With suppliers restricted on how much they can charge us, the consumer, many of them have gone out of business.
