Millions of people face a hike in their energy bills as Ofgem confirmed the energy price cap will rise by £693 per year to £1,971
Forecasts have suggested the annual energy bill for an average household could approach £2,000 or around an extra £50 per month.
Chancellor Rishi Sunak is expected to commit to giving households in council tax bands A to C rebates funded by Government grants under targeted measures for poorer households. The Bank of England is also expected to raise interest rates from 0.25% to 0.5% with its forecasts likely to show rampant inflation this spring.
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