Ofgem has announced the latest new energy price cap going into effect from 1st October – and unfortunately, it’s not the good news we’d been hoping. The price cap is set to rise by 10%, which is equal to an extra £149. Ofgem predicts this will be adding about £12 extra a month to an average energy bill for customers.
Set at £1,717, this comes as quite a blow to consumers as the energy price cap had been dropping for the previous two quarters as both the April energy price cap and the most recent July energy price cap set at £1,568 were lower than the previous quarter. July's figure is the lowest the price cap has been in the last two years.
