Energy bills price cap news live: Ofgem to announce new level as prices expected to soar amid cost of living crisis | UK News

Good morning and welcome to today’s live coverage of the cost of living crisis.

Households are bracing for Ofgem’s new energy price cap, which is due to be announced at 7am.

It is widely expected to plunge many into significant financial hardship.

Around 24 million households are set to be told that their energy bills will rise by around 80% from the start of October.

The average household will pay somewhere between £3,550 to £3,600 according to predictions from consultancies Cornwall Insight and Auxilion.

This is approximately £2,300 more than a year earlier.

As families wait for government help, many will try to reduce bills by keeping their homes colder, cooking in bulk and taking shorter and less regular showers.

But such savings are likely to offset only a small proportion of the mammoth price cap.

Rocio Concha, the director of policy and advocacy for Which?, said that six in 10 households are already cutting back on essentials or dipping into savings, even ahead of the bill rises.

It “reinforces the need to urgently deal with this crisis before many more families are pushed into the difficult choice between heating or eating”, she said.

“The government must move quickly to increase the amount of financial support it is providing to help households make ends meet and work with businesses to look at what more they can do for those facing serious financial hardship.”

Related Articles

Is CBD Overdose On Dogs Dangerous?

View the original article about CBD Overdose On Dogs at CBD Pet Medicines. If your dogs consume larger quantities of CBD oil, it can lead...

Mochinut Donut Shop Coming Soon to Princeton, NJ

These are donuts like no other. Just got word from NJ.com that a new donut shop is coming soon to Princeton and several...

Just Sayin’: Farm animals are like our family pets, more

Nassau courts face building problems In 2013, Nassau County started plans to build a new Family and Matrimonial Court building...

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Stay Connected

0FansLike
0FollowersFollow
0SubscribersSubscribe
- Advertisement -

Latest Articles

Is CBD Overdose On Dogs Dangerous?

View the original article about CBD Overdose On Dogs at CBD Pet Medicines. If your dogs consume larger quantities of CBD oil, it can lead...

Mochinut Donut Shop Coming Soon to Princeton, NJ

These are donuts like no other. Just got word from NJ.com that a new donut shop is coming soon to Princeton and several...

Just Sayin’: Farm animals are like our family pets, more

Nassau courts face building problems In 2013, Nassau County started plans to build a new Family and Matrimonial Court building...

7 Petfood Industry blogs, columns in September 2022

Is pet food inflation driving pet surrenders to shelters?September 1, 2022 – Debbie Phillips-DonaldsonOne of the most positive pet-related outcomes of the COVID-19 pandemic...

Can Dogs And Cats Get Monkeypox? What Pet Owners Should Know, According To Vets – DodoWell

With news of the monkeypox virus currently making headlines, pet owners want to know: Can dogs get monkeypox? And what about cats?Declared a...