Average Annual Energy Bill in Great Britain Set to Increase by 9.5% Starting October
Friday, 23 August 2024, 06:04
Impacts of the Energy Price Cap Increase
Campaigners are expressing concern over the increase in energy prices imposed by the industry regulator, Ofgem. Starting this October, households will face a jump from an average annual energy bill of £1,568 to £1,717, reflecting a 9.5% rise.
Details of the Energy Price Adjustment
- New price cap set by Ofgem increases by £149.
- Average annual household energy expenditure will reach £1,717.
- The prior cap had been effective since July.
Implications for Households
The increase in energy bills could exacerbate financial pressures on households as they prepare for the upcoming winter season. Many fear the burden of rising energy costs will significantly affect budgeting for essentials.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.