Ofgem price cap: Energy bills to soar for millions as cap rises to 3549 [Video]

Energy regulator Ofgem confirmed the increase on Friday morning in an announcement that threatens to condemn millions of families to fuel poverty.

For energy customers on pre-payment meters the increase is from £2107 to £3608.

Ofgem said it had no choice because of the massive rise in the cost of wholesale gas, the biggest single determinant of retail energy prices, since the Russian invasion of Ukraine.

Chief executive Jonathan Brearley, said: “We know the massive impact this price cap increase will have on households across Britain and the difficult decisions consumers will now have to make. I talk to customers regularly and I know that today’s news will be very worrying for many.

“The price of energy has reached record levels driven by an aggressive economic act by the Russian state. …