Ofgem announced an increase in the energy price cap which would usually mean higher bills for consumers.
On Thursday morning Ofgem confirmed its price cap will rise to £4,279 a year from January. Typical households are currently paying £2,500 a year for energy.
However, money-saving expert Martin Lewis has clarified to customers that they don't have to worry about the new increase just yet due to government policy currently in place. He stated that due to the Energy Price Guarantee, people will still be paying the same expected rate on their bills before the new cap.
