UK Energy Bills to Rise 10% in October in Blow to Households
- New price cap will come into force for consumers on Oct. 1
- UK wholesale gas prices have surged 8% since last price cap
Residential apartments next to electricity pylons in London.
Photographer: Chris Ratcliffe/BloombergThis article is for subscribers only.
The UK’s energy price cap will rise 10% in October, pushing up bills for millions of homes just as the winter heating season begins.
The level will increase to £1,717 ($2,251) from Oct. 1, according to figures released Friday, and is driven by higher power and gas prices in wholesale markets. Price caps are revised every three months by the regulator Ofgem.