Millions of people will pay an extra £693 a year on their energy bills from April, but plans to ease the hit will be revealed soon.
Millions of people will pay an extra £693 a year on their energy bills from April, a rise of 54%, Ofgem has said.
Soaring energy bills are the key factor in what the Resolution Foundation think-tank has described as a "cost of living catastrophe" facing people across the UK this year. The cap, which is announced every six months, sets the prices that suppliers can charge for each unit of energy as well as the standing charge. This is then translated into the expected annual bill for a household that uses the typical amount of gas and electricity.
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