Ofgem is expected to announce today, Thursday, that the energy price cap is to rise by 50% because of soaring wholesale gas prices, meaning the average annual bill for gas and electricity could hit £1,915.
Expert analysis suggests Ofgem’s review of the price cap, which will affect around 22 million households, will see bills soar by 50%.
The rise will come into force from April 1, when the price cap on energy bills is updated for the next six months.
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