Households face paying hundreds more for their energy bills from April as prices continue to soar. Ofgem announced that the energy price cap will rise by 54 per cent - adding an extra £693 onto the average annual bill.
But what is causing the current energy crisis and why are we paying so much more? READ MORE: 'I haven’t put the heating on all through the winter': People on the streets of Manchester react to the energy price cap Chancellor Rishi Sunak explained that the rise in energy costs was a global problem, not just one affecting the UK.
Here, we take a look at what's behind the rising prices. It all comes down to the fact that the wholesale price of gas has soared in recent months.
Gas prices are currently around four times higher than they were a year ago. There is not one single cause for surge in prices, but people, companies and countries generally are having to compete with each other to buy up gas.
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