The energy price cap will rise to around £2,800 in October.
On Tuesday, the head of the UK's energy regulator, Ofgem, described the soaring price cap as a "once in a generational event", with warnings that millions will face crisis as costs continue to rise. Jonathan Brearley told MPs that the price cap, which is currently at £1,971, will increase due to continued volatility in the gas market.
The energy price cap is the maximum price per unit that suppliers can charge customers. It rose sharply in April, getting to a point where average homes are now paying an extra £700 on their energy bills. The coming rise will strike fear into many.
