Around 11 million households face a near £100 energy price hike from April. Industry regulator Ofgem was slammed after yesterday announcing a jump in the limit suppliers can charge customers on standard tariffs.
A similar cap for four million already hard-up households who have prepayment meters will leap by an average of £87 a year. Ofgem said the increases were justified by higher wholesale energy costs.
Allowing suppliers to up the standard tariffs limit by around £96 from April 1 will take the average bill to £1,138 a year – wiping out a cap decrease last October.
The hike includes a sum for suppliers to recoup losses for customers unable to pay bills during the coronavirus crisis. Jonathan Brearley, chief executive of Ofgem, said:
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