26th Aug 2026 07:23
(Alliance News) - Ofgem, the energy regulator for Great Britain, on Wednesday announced a 4% increase in the energy price cap for the three months from October 1 to December 31, slightly below expectations.
The current price cap for a typical household paying by direct debit for gas and electricity is GBP1,663. Ofgem said the cap in October will reach GBP1,723, equivalent to an increase of GBP60 per year or GBP5 per month.
"This increase reflects higher wholesale gas prices as a result of the ongoing conflict in the Middle East, with volatile global gas markets remaining the dominant driver of price changes," Ofgem said. "However, prices remain 52% below the height of the energy crisis in 2022 when the government stepped in to cap bills at GBP2,500.
Cornwall Insight had forecast the cap rising to a slightly higher GBP1,729.31 for the October to December period.
By Emma Curzon, Alliance News reporter
Comments and questions to [email protected]
Copyright 2026 Alliance News Ltd. All Rights Reserved.