Energy bills for millions of households are projected to increase this winter, reaching their highest level in three years due to a new price cap from regulator Ofgem. The anticipated rise of 4% will impact those on variable tariffs across England, Scotland, and Wales, coinciding with colder weather starting in October.
The increase is attributed to rising wholesale gas costs, which have surged by 61% over the past three months. With energy debt rising significantly, industry representatives are calling for additional support for struggling households, while the government has announced a VAT cut on electricity bills.
As winter approaches, households should monitor their energy usage closely to mitigate rising costs. With energy debt expected to escalate, exploring available support schemes and engaging with suppliers proactively will be crucial for those facing financial strain.