The boss of the energy regulator Ofgem has said that cost of heating and electricity is likely to rise to £2,800 for the average household this October. That is up from £1,971 a year now.
The huge hike in the price cap will see most households being forced to pay £233 a month for gas and electricity - up from £164 after the earlier price hike in April this year. Until this spring's price hike, the average bill had been just £1,277 a year equivalent to £106 a month.
Jonathan Brearley, the chief executive of Ofgem, gave the figure in answer to MPs today and said it would affect 23 million households. Mr Brearley was speaking to the Commons' business, energy and industrial strategy committee and warned that could go up further if there is a further disruption of gas from Russia. He said that the global gas market conditions had "worsened" and prices are ten times higher at some points.
