Millions of people across the UK are facing financial difficulty after an 80% increase in the energy price cap was announced on Friday. Government regulator Ofgem has confirmed the average yearly bill will go from £1,971 to £3,549 from October for around 24m households in England, Scotland, and Wales on default energy tariffs.
The news prompted MoneySavingExpert Martin Lewis to warn "lives will be lost this winter" as a result of the increase which he branded a "catastrophe." You can read what he said in his interview on the Today programme here.
Experts and analysts have already warned of the difficulties many households will face as a result of the change. Ofgem CEO Jonathan Chorley said there was existing government support available but that the upcoming new prime minister "will need to act further to tackle the impact of the price rises that are coming in October and next year". A study by the University of York has also predicted that 45m people in Britain could face fuel poverty this winter.
