Gas and electricity bills rise by £60 on average to highest level in three yearsAnd Sebrina McCullough, director of external relations at free debt advice organisation Money Wellness, which helps 1,000 people a day, also called for targeted support for the most vulnerable, such as an energy social tariff.This 3.6% rise might sound modest, but it will add around £60 to the typical household energy bill – effectively wiping out much of the saving from the VAT cut. For millions of households already under pressure, that extra £60 could be the difference between keeping up with their bills and falling behind.And with further rises potentially on the cards, we need targeted support for those who are most vulnerable. An energy social tariff, similar to the support available for water bills, could help protect households who simply can’t afford another increase.While the price cap is increasing, it’s not increasing by as much as it would’ve done thanks to the government’s decision to remove VAT from bills for six months starting in October. However, the price cap also increased in July, so the compounded effect of back-to-back price cap increases will become very apparent, especially considering energy consumption drops over Summer, so most households wouldn’t have felt the immediate impact of the July increase.Worse still, if geopolitical circumstances, particularly those in the Middle East, carry on as they have been this year, then the likelihood is that there will be another price cap increase from January, meaning there will have been three increases on the bounce. Continue reading...