Energy bills will rise by more than £200 a year for the average household from July, after the energy price cap was increased on Wednesday morning.
The 13% rise, announced by energy regulator Ofgem, sets the maximum price per unit of gas and electricity used from July to September for a typical dual fuel household across England, Scotland and Wales.
Ofgem’s decision to increase April’s annual cap of £1,641 to £1,862 equates to a rise of £18 per month for these average households.
Households will see an increase of 24% on their gas bills and 5% on their electricity bills.
Currently, 40% of accounts – or 22 million – are fixed tariffs, according to Ofgem figures, and are therefore unaffected by this price rise.
It marks the first price cap set since the start of the Iran war on February 28, which triggered a blockade of the crucial Strait of Hormuz shipping route and led to significant disruption of trade and global energy markets.
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