Millions of Britons will pay higher energy costs from April after regulator Ofgem said its domestic price cap would rise 6.4% due to soaring wholesale energy prices.
That would be the third consecutive quarterly increase and a blow for the government, which had made reducing energy bills one of its aims. It comes after higher-than-expected inflation figures for January.
Ofgem’s new cap of 1,849 pounds ($2,334.18) a year for average use of electricity and gas is up 111 pounds, or 6.4%, from 1,738 pounds under the previous cap.