- Ofgem ’s energy price cap will rise by 4 per cent on 1 October, increasing the average annual household direct-debit bill in Great Britain by £60 to £1,723.
- The energy regulator attributed the price hike to rising wholesale gas costs driven by ongoing conflict in the Middle East and volatile global markets.
- The cap increase coincides with a temporary removal of 5 per cent VAT from electricity bills, which is estimated to save average households around £45 annually until March.
- Comparison site Uswitch has advised households without smart meters to submit readings by 30 September to avoid being charged higher rates for previous usage.
- Fuel poverty charity National Energy Action warned of severe impacts on vulnerable households, while experts at EDF forecast a further 30 per cent price cap rise in January.
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