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Energy prices to rise for millions of households

Energy prices will rise for millions of people across the UK in April, at a time when finances are squeezed.

Regulator Ofgem said the price cap for default domestic energy deals would be raised to cover suppliers' extra costs.

The typical gas and electricity customer is likely to see their bill go up by £96 to £1,138 a year.

Charities say the timing is a "double whammy", coming at a time when the government's Covid-related support schemes are due to be wound down.

Ofgem said rising wholesale costs were behind the increase, adding that the existence of the price cap meant households saved £100 a year, and they could also switch to a better deal.

https://www.bbc.co.uk/news/business-55925514

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