The energy price cap will increase from 1st October, leading to higher energy bills for households in England, Scotland and Wales.
The new cap is set to rise due to an increase in wholesale gas prices, which has prompted the rise in costs.
From this date, households can expect their energy bills to increase by an average of £12 per month.
The price cap sets a maximum limit on the amount suppliers can charge per unit of energy but does not limit the total bill, as households will still pay for the energy they use.
The energy regulator, Ofgem, announced this change in a quarterly review on 23rd August, highlighting that the price cap will increase to reflect current market conditions.
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