Wholesale gas prices have risen significantly this month as Brits reach for the thermostat to battle the cold winter weather.
Figures from the Office for National Statistics show that the System Average Price of Gas (SAP) spiked up to its highest since September, more than trebling in a month.
SAP is an industry measure which tracks the on-the-day commodity market.It is used by National Grid to balance out supply, demand and distribution of gas.
The average household spend on gas is expected to rise to £4279 in January meaning the Government’s Energy Price Guarantee (EPG) will cost the taxpayer more. The EPG caps the annual household cost of gas at £2,500.
