UK energy bills are set to rise again in January – here’s why

Jump to contentAllNewsSportCultureLifestyleOfgem has confirmed that the UK energy price cap will rise by four per cent in October to £1,723 a year for the average household, marking a £60 increase from the current level. Energy forecaster Cornwall Insight has warned of a further nine per cent increase in January to £1,872, which would push annual energy bills more than £200 above current rates. The forecasted price cap increases threaten to completely negate recent government relief measures, including a temporary VAT cut saving £45 annually and a £150 bill reduction from scrapped energy schemes. The renewed surge in energy costs is being driven by global market disruptions stemming from the ongoing US-Iran conflict and the effective blockage of the Strait of Hormuz. The Resolution Foundation think tank has urged ministers to introduce a targeted, means-tested scheme to reduce winter bills by an average of £175 for the households most affected by rising costs. In fullEnergy bills could be more than £200 higher by 2027, experts warnMore bulletinsThank you for registeringPlease refresh the page or navigate to another page on the site to be automatically logged inPlease refresh your browser to be logged in

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