Energy regulator Ofgem announced today that the price cap will rise to £3,549 from October.
Amid the worsening cost of living crisis, the average household's yearly bill will rise by more than 80 per cent to around £1,971. The cap will come into effect for around 24 million households in England, Scotland and Wales on default energy tariffs on October 1, and will remain in place until December 31, when it will be adjusted again.
But what is being done to help? Although some schemes and measures have already been announced by the government, the new Prime Minister will need to take 'urgent action' to help those struggling to heat their homes this winter, Ofgem’s chief executive has warned.
