People who pay for their energy bills via cash or cheque have been advised to make an urgent change ahead of autumn. On Friday (August 26) regulator Ofgem will make its latest announcement about the price cap, which regulates what 24 million British households pay for their energy bills.
Ofgem confirmed earlier this month that the energy price cap will be updated four times a year, rather than twice as it warned that customers face a “very challenging winter ahead”. The regulator said the change would go “some way to provide the stability needed in the energy market."
In March, the price cap increased by 52 percent, meaning the average household would be forking out nearly £700 more on their bills annually. It is expected to rise again significantly in the autumn.
