A £94 increase to the average household energy bill comes into effect on January 1 after Ofgem increased its price cap in response to rising wholesale prices.
The regulator’s price cap is rising by 5% from the current £1,834 for a typical dual fuel household to £1,928 from Monday, driven almost entirely by rising costs in the international wholesale energy market because of market instability and global events, particularly the conflict in Ukraine.
