The energy regulator Ofgem has announced a higher-than-expected increase in the energy price cap with energy bills rising by £111 for a typical household per year.
The announcement follows the January energy price cap increase , whereby bills increased by 1.2%. Now, the cap is rising by 6.4% and households will expect to see an increase of £9.25 per month, taking the average annual energy bill to £1,849 per year.
The energy price cap is set every three months, meaning this increase is from April to June this year, with the energy regulator stating the recent spike in wholesale prices was responsible for around 78% of the total increase, as…
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