The energy price cap will increase from the current £1,971 to £3,549 from October 1, regulator Ofgem has announced.
The energy regulator currently updates its price cap twice a year - in April and October. But now, the regulators will review the cap every January, April, July and October.
Ofgem says the idea of reviewing its price cap more often is so energy companies can provide more accurate pricing for customers. It means millions of households who are on a standard variable tariff will see more frequent changes to their energy bills.
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The current price cap was last adjusted in April this year, rising from £1,277 to £1,971 per year on average. Money Saving Expert Martin Lewis has previously warned that Britain will face a dire winter as the prices continue to spiral.
Earlier this week, a leading energy firm came out in support of proposals to freeze bills this winter. Octopus Energy, Ecotricity and Utilita are supporting the tariff deficit fund, which could see the price cap frozen at roughly its current level. Greg Jackson, founder and chief executive of Octopus Energy, has compared beer to gas prices, stating that if the price had risen at the same rate as energy, a pint could cost £25.
Mr Jackson, who is calling for Government intervention ahead of further price cap rises, told BBC Radio 4's Today programme: "I think the spate of failures within the 29 companies that went bust last year, that was driven by gas prices roughly doubling. They're currently nine to 11 times higher than usual."
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