The SNP has warned of a ‘double-whammy’ hit to households in the coming months after changes to interest rates and the energy price cap were announced yesterday.
The political party have hit out at the timing of the announcement as they feel that people are getting hit twice as hard and will cause people to be more fearful of the household economy.
Ofgem confirmed that the energy price cap, which limits how much energy companies can charge households, will now be updated quarterly, as opposed to the current rate of twice a year, to keep up with the rising costs.
