Energy bills rise for millions of households FROM TODAY as Ofgem hikes price cap
Ofgem's energy price cap increases from January 1, raising bill costs slightly for those on a variable tariff
Energy bills for households across England, Wales and Scotland have increased from today following a 0.4% rise in Ofgem's energy price cap. The regulator announced on December 24 that the cap will increase by £15 to £1,568 per year for a typical household on a variable tariff, effective January 1. This marks the first increase in the price cap since October 2023, when it was set at £1,447. The cap applies to standard variable tariffs and prepayment meters, affecting millions of households. Ofgem stated the increase reflects rising wholesale energy costs, with gas prices up 1.5% and electricity prices up 0.2% on average. The regulator also confirmed the Energy Bills Support Scheme will continue to provide £150 off bills for eligible households until March 2026.
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