Ofgem: Energy price hike will be difficult for households
Video Credit: ODN - Duration: 00:44s - Published
Ofgem: Energy price hike will be difficult for households
The average household energy bill is to increase by £149 from October after Ofgem said it was increasing its price cap as homes approach the winter months.
Jonathan Brearley, chief executive of Ofgem, said rising prices in the international energy market, due to heightened political tensions and extreme weather events, were the main driver behind the decision.
Report by Covellm.
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Households on the energy price cap will see a 7% reduction in their average annual payments from 1 July, Ofgem has confirmed. Ofgem's Tim Jarvis urged households on the price cap to "shop around" for savings as there are "better deals out there" despite the reduction in the default tariff. Report by Kennedyl. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
Household energy bills will drop by 7% from July, the energy regulator Ofgem announced on Friday.
Ofgem's announcement is the first drop in the energy price cap for more than a year. Energy secretary Miatta Fahnbulleh welcomed the announcement, saying: "Bills going down will be a big relief for families who are under pressure with the cost of living. We have to continue the work of getting bills down for good."
Report by Kennedyl. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
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The average household energy bill is to increase by £149 from October after Ofgem said it was increasing its price cap as homes approach the winter months. Martin Lewis, the founder of..
The average household energy bill is to increase by £149 from October after Ofgem said it was increasing its price cap as homes approach the winter months. Energy Secretary Ed Miliband said the..
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