Energy price cap expected to soar to ‘region of £2,800’ in October, Ofgem chief announces | Personal Finance | Finance
Jonathan Brearley, the chief executive of industry regulator Ofgem, informed the the Business, Energy and Industrial Strategy Committee earlier of the expected increase. Mr Brearly revealed he is expecting an increase to the energy price cap in October “in the region of £2,800”. Appearing in front of the committee, the regulator head said: “The price changes are genuinely a once in a generation event not seen since the 1970s.” This latest update from Ofgem will be concerning for the majority of households who are already in the midst of experiencing a rise of £693 to their annual energy bill.
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