Further financial pressure is looming for many households after regulator Ofgem raised its energy price cap by 4% to a three-year high.
The regulator said the price cap will rise by £60 a year – or £5 a month – to £1,723 for the average household using both electricity and gas if this level is sustained for a year.
The CEO of Octopus Energy, Greg Jackson, said that ‘we should be able to do better’ with regards to additional support for ‘people who need it most’, suggesting up to £400 for people struggling to pay their bills.
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