Energy Price Cap Rises Amid Inflation Struggles

Millions of Britons, already wrestling with tight budgets, are set to experience a hike in energy bills from October, following regulator Ofgem's 2% increase in the price cap. This decision comes despite governmental efforts to reduce energy costs.

The updated price cap, now standing at 1,755 pounds annually for average electricity and gas use, has risen by around 35 pounds compared to July-September. According to Ofgem, this increase stems from a rise in network and policy costs.

Government initiatives, such as expanding the warm home discount to an extra 2.7 million households, aim to aid the vulnerable this winter, despite adding 1.42 pounds monthly to bills. The move faces criticism from consumer groups pushing for more extensive support for those in need.

(With inputs from agencies.)