Energy price cap: what is new Ofgem price cap for October 2022 - what does it mean and how does it work?
The typical household energy bill will hit £3,549 a year from October after Ofgem increased the price cap - follow the latest updates and analysis in our live blog.
Today, Ofgem announced its new energy price cap for October 2022.
The energy regulator confirmed an 80% rise, sending the average household’s yearly bill from £1,971 to £3,549 from October.
This is happening because wholesale gas prices have been driven up by the war in Ukraine.
Price cap announcements will become quarterly after today’s announcement, with the October cap running until 31 December.
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Read our commentary below for all of NationalWorld’s news and analysis on the energy price cap.