US EditionEnergy Prices to Rise - Use Our Calculator to Find Out How Much You Could Pay
The energy price cap increase will affect about 9 million households on variable tariffs, adding £35 annually to average bills amid expanded government support schemes.
- Ofgem announced that from October 1, the typical annual energy price cap will rise to 1,755, increasing bills for a typical household by about 35 a year.
- Policy and market shifts have pushed the cap up, as the expansion of the 150 Warm Home Discount to 2.7 million more households adds about 15 to bills, while wholesale gas prices remain 75% above pre-Ukraine-invasion levels and electricity balancing costs add 1.23 monthly.
- About 9 million households on variable tariffs will see an immediate impact, while fixed-rate deals offer savings up to £292 and Outfox Energy has the cheapest tariff at £1,463.
- Charities warn that energy debt exceeds 4.2 billion and the rise deepens fuel poverty for 12 million households, including over one million older households already in hardship.
- Ofgem advised households to fix their bills to shield from volatile gas markets, noting 37% are on fixed tariffs and shopping around could save consumers more than 200.
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26 Articles
26 Articles
Energy bills rise after Ofgem increases price cap
Wholesale prices may be falling, but energy bills are set to rise for millions of households in October. The regulator Ofgem has increased the price cap by 2% – meaning the average household not on a fixed tariff will pay an extra £35 a year, taking their annual bill to £1,755. Millions are already in debt, some scared to even turn their boiler on as the colder months draw in.
·London, United Kingdom
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Coverage Details
Total News Sources26
Leaning Left5Leaning Right3Center4Last UpdatedBias Distribution42% Left
Bias Distribution
- 42% of the sources lean Left
42% Left
L 42%
C 33%
R 25%
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