Household energy prices will rise in January putting more financial pressure on billpayers at the coldest time of year.
Energy regulator Ofgem said the typical annual household bill would go up from £1,834 to £1,928, a rise of £94 or 5%.
It said the rise in bills would be “worrying” at a difficult time for many people, but was the result of higher wholesale costs faced by suppliers.
It said the rise in bills would be “worrying” at a difficult time for many people, but was the result of higher wholesale costs faced by suppliers.
The announcement comes the day after Chancellor Jeremy Hunt delivered his Autumn Statement.
The regulator’s price cap affects 29 million households in England, Wales and Scotland. Rules are different in Northern Ireland. Ofgem sets the maximum amount that suppliers can charge for each unit of gas and electricity but not the total bill, so if you use more, you will pay more.
From January:
Dr Craig Lowrey, principal consultant at energy analysts Cornwall Insight, said a rise in energy bills was “the last thing households need”, especially heading into winter.
Household energy prices will rise in January putting more financial pressure on billpayers at the coldest time of year.
It said the rise in bills would be “worrying” at a difficult time for many people, but was the result of higher wholesale costs faced by suppliers.
Energy regulator Ofgem said the typical annual household bill would go up from £1,834 to £1,928, a rise of £94 or 5%.
The announcement comes the day after Chancellor Jeremy Hunt delivered his Autumn Statement.
It said the rise in bills would be “worrying” at a difficult time for many people, but was the result of higher wholesale costs faced by suppliers.
It said the rise in bills would be “worrying” at a difficult time for many people, but was the result of higher wholesale costs faced by suppliers.
The announcement comes the day after Chancellor Jeremy Hunt delivered his Autumn Statement.
The regulator’s price cap affects 29 million households in England, Wales and Scotland. Rules are different in Northern Ireland. Ofgem sets the maximum amount that suppliers can charge for each unit of gas and electricity but not the total bill, so if you use more, you will pay more.
From January:
Dr Craig Lowrey, principal consultant at energy analysts Cornwall Insight, said a rise in energy bills was “the last thing households need”, especially heading into winter.
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