Millions of people across the country are facing higher energy bills after Ofgem confirmed its price cap will go up.
The energy price cap will increase to £3,549 in October for those on default tariffs paying by direct debit. This is a rise of £1,578 - or roughly 80% - from the current level of £1,971. For those paying by prepayment meter, there is a bigger jump from £2,017 to £3,608.
Standard credit customers, where customers pay once they've received their bill, will see their price cap rise from £2,100 to £3,764, reports The Mirror. But what exactly is the price cap and how will the rise affect you? Here is everything you need to know.
