Energy Bills to Rise 10 Percent in Autumn, Says Ofgem

The average household energy bill will rise by £149 from October after Ofgem said that it would be increasing the price cap. Ofgem said on Friday that prices would increase by 10 percent, from £1,468 a year to £1,717 for a typical household in England, Scotland, and Wales. This is £117 less than the October 2023 cap, which was £1,834, but still means households will be heading into winter with higher energy prices than since the cap was lowered in April. The regulator said one of the reasons for the increase was rising prices in the international energy market caused by political instability. Jonathan Brearley, chief executive of Ofgem, said: “We know that this rise in the price cap is going to be extremely difficult for many households. Anyone who is struggling to pay their bill should make sure they have access to all the benefits they are entitled to, particularly pension credit, and contact their energy company for further help and support.”...