Households across Great Britain are set to see monthly energy bills rise by five per cent from January 1 after Ofgem announced the new price cap on Thursday.
The energy regulator confirmed that the price cap will increase from the current £1,834 per year to £1,928, and will be in place until the end of March.
This winter is set to be the most expensive year for households as the UK Government’s £66/£67 monthly discount that was in place between October 2022 and March 2023 has now been reinstated.
The charity Age UK has expressed particular concern for older people, many of whom have already dipped into savings to help them through the cost of living crisis.
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