BREAKING: Ofgem chief executive Jonathan Brearley has said he expects the regulator to increase the energy price cap to a figure ‘in the region of £2,800’ in October.
Household bills are set to go up yet again, with energy companies set to be allowed to charge an extra £800 per year.
Around 22 million customer pay for their energy using this price cap. The level is updated twice a year and tracks wholesale energy and other costs. ‘Gas prices are higher and highly volatile. At times they have now reached over 10 times their normal level.
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