A 4 per cent hike to Ofgem’s energy price cap took effect today amid warnings that household bills could soar by almost another £300 from January.The increase coincided with Cornwall Insight predicting a further 16 per cent rise to £1,999 a year on January 1 — the biggest rise since January 2023.The bill for an average household reached £1,723, up £60 a year. More than four million homes on standard tariffs are affected.

A 4 per cent hike to Ofgem’s energy price cap took effect today amid warnings that household bills could soar by almost another £300 from January.

The increase coincided with Cornwall Insight predicting a further 16 per cent rise to £1,999 a year on January 1 — the biggest rise since January 2023.

The bill for an average household reached £1,723, up £60 a year. More than four million homes on standard tariffs are affected.

From Morning Star via This RSS Feed.