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Household Stress Mounts As UK Energy Cap Set To Rise To £2,800

The cost of living crisis is continuing to spiral out of control, with UK households being warned that the energy price cap will likely rise to around £2,800 in October — a time when families typically start turning their heating back on after the warm summer months.

Posted: 25th May 2022 by Finance Monthly
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"Now, this is uncertain, we are only halfway through our price cap window but we are expecting a price cap in October in the region of £2800," Ofgem CEO Jonathan Brearley told the Business, Energy and Industrial Strategy committee.

"I know this is a very distressing time for customers but I do need to be clear with this committee, with customers and with the government about the likely price implications for October," he added.

In April, Ofgem announced a 54% energy price cap increase amid rocketing oil and gas prices. The expected October rise will put further pressure on households that are already struggling.

Last week, police officer Vicky Knight made headlines after she blasted Home Secretary Priti Patel over the cost of living crisis. Knight explained that she is struggling to feed her child on her £2,300-a-month wage, highlighting just how unaffordable basic necessities are rapidly becoming, even for those earning what is widely considered generous pay.

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