Ofgem has confirmed that energy bills will rise by £693 per year from the beginning of April from £1,278 to £1,971 for the average user - the true cost of the price hike will depend on whether you are a higher or lower energy user.
The energy regulator also confirmed that for customers with pre-payment meters the price cap will go up by £708 to £2,017.
The decision is likely to impact millions of households across the UK and applies to those who are on their energy supplier’s default tariff. Shortly after the announcement, financial guru Martin Lewis took to social media to share his views and respond to a raft of comments and questions from concerned consumers asking if they should switch supplier.
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