Ofgem have announced the UK’s energy price cap will soar by £693 to an average of £1,971 per year for millions of households. A staggering rise of 54%.
The rise will take place in April, with 22 million customers expected to take the hit. The rise is also higher than most economists’ predictions, even after the 12% rise last October, which put the average bill at £1,278. Just in time for the Treasury to whack up taxes.