Ofgem raises the UK energy price cap 4% to £1,723 per year from October, pushing bills to a three-year high and complicating the Bank of

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

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.