Pople across the UK can expect a huge increase in energy bills in coming months as the energy price cap rises to £3,549 per year in October. The new price cap, announced on Friday morning, is a rise of more than 80% on April's figure of £1,971 and will come into effect for around 24 million households from October 1.
Government regulator Ofgem's chief executive Jonathan Brearley warned of the hardship energy prices will cause this winter and urged the incoming Prime Minister and new Cabinet "to provide an additional and urgent response to continued surging energy prices".
Research is already forecasting that more than 40 million people in the UK could face fuel poverty as a result of soaring energy costs, with further increases to the price cap on the cards next year. You can read all our latest update's on today's announcement here.
