UK household energy costs are set to rise again in October as higher wholesale gas prices push Ofgem’s typical annual price-cap figure to £1,723.

Analysts are expecting household bills to increase after the Middle East conflict affected wholesale prices.

Ofgem said today that the energy price cap will rise by £60 per year - or £5 per month - to £1,723 for the average household using both electricity and gas if this level was…

It marks the highest average bill since July 2023

The price cap rise will push bills to their highest since July 2023

The price cap taking effect from October 1 will rise by 4% for a typical household using gas and electricity.