Energy Bill Price Hike Takes Effect as Record Numbers Struggle With Debt
An electricity transmission pylon above residential houses in Brighton.
Photographer: Chris Ratcliffe/BloombergThis article is for subscribers only.
A £94 increase to the average household energy bill has come into effect after Ofgem increased its price cap in response to rising wholesale prices.
The regulator's price cap has risen by 5% from the previous £1,834 for a typical dual fuel household to £1,928, driven almost entirely by rising costs in the international wholesale energy market due to market instability and global events, particularly the conflict in Ukraine.