Ofgem energy price cap: what does the new year rise mean for households?
The Guardian says The Ofgem price cap is climbing again and will rise to £1,928 a year for a typical annual energy bill in Great Britain when it is adjusted in January.
Soaring energy bills have made the price cap set by the energy regulator a closely watched figure. The bad news is that after dropping back to £1,834 a year in October it is to rise by £94 in January, after a jump in wholesale gas and electricity prices.
This leaves the majority of households facing the coldest months of the year with much higher energy costs than before the pandemic, without government help and limited scope to switch to a cheaper deal.
Simon Francis, a coordinator of the End Fuel Poverty Coalition, said the increase would land at the worst possible time for households.