UK Energy Price Cap Rises by £149 in October

Ofgem has announced a 10% increase in the energy price cap, raising it to £1,717 for the average household from October, adding approximately £149 to annual energy bills. This rise, attributed to higher international energy prices and geopolitical tensions, comes as government support measures, including winter fuel payments for many pensioners, are being cut. Households are being urged to shop around for better deals, as energy companies continue to profit significantly despite the cost-of-living crisis. Research indicates that a majority of consumers would alter their energy usage patterns to reduce bills, particularly renters who may be more financially constrained. Campaigners warn that the increase in energy costs exacerbates existing fuel poverty, affecting millions across the UK. There are calls for immediate government action to alleviate the impact of rising energy bills, including ending energy debt and extending support funds.