Winter energy prices expected to rise to three-year high
Image source, Getty Images By Kevin Peachey Cost of living correspondent Published 2 minutes ago Energy bills for millions of households are expected to rise this winter to the highest level for three years, under a price cap to be announced by the industry regulator on Wednesday. The cap will reflect the rise in the wholesale cost of gas, paid by suppliers and will hit bills just as the colder weather arrives in October until the end of December. Analysts expect Ofgem to say prices will go up by 4% compared with the current cap, affecting those on variable tariffs in England, Scotland and Wales. Firms say energy debt has jumped and, with high bills likely to persist, have called for more support for those struggling to pay. The government says VAT is being cut from electricity bills. The price cap for about 33 million households is expected to rise, driven by volatility in international wholesale gas prices. The average price of gas has been 61% higher over the past three months comp...
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