Millions of UK households will see their gas and electricity bills jump by more than 50 per cent in April after energy regulator Ofgem announced a record-breaking increase to its price cap.
The new cap will allow suppliers to charge customers a maximum of £1,971 per year, meaning energy bills for the average household will increase by £693.
Rishi Sunak has announced a package worth £350 per household to ease the pressure of rising bills, as high inflation and a tax rise also loom.
Speaking at Downing Street press conference this evening, the chancellor said that energy price rises are “so significant” they will impact middle-income families as well as the poorest households.
Mr Sunak said: “My view is that the price rise is so significant that it’s not just those families who are on benefits that are going to feel the pinch, it’s actually middle-income families as well - families that are working hard, they’re not on welfare, but this will be a significant increase for them.”
