26th Aug 2022 07:19
(Alliance News) - UK's energy regulator Ofgem on Friday said it will increase the annual energy price cap on default tariffs by 80%.
From October 1, energy suppliers in Great Britain can charge up to GBP3,549 per year for energy bills, up from the previous cap of GBP1,971.
The cap for households on prepayment meter bills will rise by 79% to GBP3,608 from GBP2,017.
Ofgem regulates energy prices for England, Scotland and Wales, while Utility Regulator sets the price cap in Northern Ireland.
By Tom Budszus; [email protected]
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