Published by Michele Maatouk on 23rd August 2024
(Sharecast News) - Households will begin the run-up to winter with a sharp increase in their energy bills after the industry regulator increased its cap on energy prices by 9.5% from October. Under the new price cap, the average annual energy bill will rise to £1,717 a year for gas and electricity, up £149 from its current level of £1,568, which has been in place since July. The price cap is set every quarter by Ofgem, the energy regulator for Great Britain, and imposes a maximum on how much suppliers can charge their 29 million household customers per unit of gas and electricity. - Guardian