Enercy price cap set to rise to £3,549 in October

(Last Updated On: August 26, 2022)

Ofgem have announced today that the energy cap will increase by over 80% to £3,549.

The price cap is currently £1,971. Households will see their bills rise by an average of £1,578 a year.

As ofgem will now be adjusting the cap every three months, an increase from twice a year, the amount could increase again in January.

A Government Spokesperson said: “We know people are incredibly worried about rising energy bills, following unprecedented gas prices across the continent driven by global events, including Putin’s aggression in Ukraine and his weaponisation of energy in Europe.

“Direct support will continue to reach people’s pockets in the weeks and months ahead, targeted at those who need it most like low-incomes households, pensioners and those with disabilities. As part of our £37 billion package of help for households, one in four of all UK households will see £1,200 extra support, provided in instalments across the year, and everyone will receive a £400 discount on their energy bills over winter.

“The civil service is also making the appropriate preparations in order to ensure that any additional support or commitments on cost of living can be delivered as quickly as possible when the new Prime Minister is in place.”

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