When energy bills will rise by nearly £100 across the UK and what it means for you
manchestereveningnews.co.ukHouseholds all across the UK are set to see another rise in their energy bills in the new year. Ofgem confirmed that the energy price cap will rise by 5 per cent - from £1,834 to £1,928.
The rise, set to take place on January 1, 2024, comes following a year of a particularly hectic market that saw bills by more than £4,000 a year for the average household.
While this increase at the start of 2023 would have been disastrous for many struggling households, it was offset by the government's energy price guarantee which limited the average price at £2,500 a year.
However, this government support will not be available in 2024, leaving households on their own to pay their higher bills. Read more: The 1p challenge backed by Martin Lewis will save you more than £600 before next Christmas Read more: Dream £10m mansion with pool, tennis court and 'hidden bar' that's one of Rightmove's most-viewed homes this year Dr Craig Lowrey, principal consultant at Cornwall Insight, said: “As households brace themselves for energy bill rises in January, current forecasts of price cap dips later in the year may offer a small light at the end of the tunnel." Current forecasts predict that the price cap will fall again in April to roughly £1,660 and once again in July to £1,590.
Read more on manchestereveningnews.co.uk
