British families are bracing for another brutal energy bill hike as regulators prepare to raise the price cap in January, potentially adding £500 to annual costs.
The new Ofgem cap, due to be announced next week, is expected to jump to £1,925 for a typical dual-fuel household - up from the current £1,834.
Winter Crisis Looms
Energy analysts Cornwall Insight predict the increase will push millions deeper into fuel poverty during the coldest months. "This couldn't come at a worse time," said Dr. Craig Lowrey, Principal Consultant at Cornwall Insight.
Why Bills Keep Rising
- Global wholesale gas prices remain volatile
- Ongoing impact of Russia's war in Ukraine
- Weaker pound increasing import costs
- Higher network and policy costs
While the January rise will be painful, experts warn the April 2024 cap could bring slight relief, potentially dropping to £1,860 as markets stabilise.
Support Schemes Ending
The fresh hike comes as government support measures wind down:
- No repeat of last winter's £400 energy rebate
- Warm Home Discount reduced to £150
- Cost of Living payments ending for most
Charities urge struggling households to contact suppliers about payment plans and check eligibility for remaining support schemes.
