The typical UK household gas and electricity bill will rise to £3,549 a year from October from £1,971 at present, the sector’s regulator confirmed on Friday, as consumers grapple with a cost of living crisis driven by soaring energy costs.
Ofgem said the 80 per cent increase in the so-called price cap, which governs the maximum a household will pay for typical energy use from October, was the result of the rising cost of wholesale gas and electricity prices.
The latest industry forecasts suggest the price cap could rise above £5,000 a year by the spring. The price cap was at £1,277 in October last year.
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