Price cap alert: Energy bills set to rise

The energy regulator Ofgem is set to unveil its latest quarterly energy price cap on Friday.

The cap, which will apply from October 1st to December 31st, is anticipated to rise by 10% to £1,723.

This increase comes in response to a surge in wholesale energy costs.

Recent reductions to the cap in April and July have not been sufficient to return average household energy bills to pre-energy crisis levels.

Consultancy Cornwall Insight, known for its reliable forecasts, predicts that typical domestic energy bills will climb to £1,714 annually from October.

This marks a £146 increase from the current typical annual bill of £1,568, the lowest in two years.

Many charities are concerned about the potential impact of these rising costs on households as winter approaches.