UK's Energy Price Cap Rises: The Impact on Households
Ofgem, the UK's energy regulator, is set to increase the energy price cap by 2% from October to December. This change affects typical households on default tariffs, who will see their monthly energy bills rise from £100 to £102, exceeding Cornwall Insight's estimate of a 1% rise.
The UK's energy regulator, Ofgem, has announced a 2% increase in the energy price cap for the period from October to December.
This adjustment means that the typical household on a default tariff will now pay £102 per month, compared to the current cost of £100. This increase surpasses the 1% rise estimated by Cornwall Insight.
The move aims to address fluctuating market dynamics but poses potential financial challenges for consumers already grappling with rising living costs.
(With inputs from agencies.)
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- Ofgem
- energy
- price cap
- UK
- households
- October
- tariff
- Cornwall Insight
- bills
- regulator
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