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 sustained for a year.

Regulator Ofgem will on Wednesday reveal the level of the annual energy price cap for the three months from October to December.

Ofgem will announce the upcoming price cap for typical gas and electricity usage for the October to December period

It marks the highest average bill since July 2023

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

Ofgem has announced that its price cap will rise by 4% or £60 per year to £1,723 from October 1.

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

Ofgem announced that the energy price cap will rise by 4 per cent from October 1