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Household energy price rise of 5% comes into force

Business / Mon 1st Jan 2024 at 11:03am

AN increase in the cost of domestic energy in England, Wales and Scotland has taken effect, adding pressure to household budgets in the new year reports the BBC.

A higher price cap, set by regulator Ofgem, from now to April means gas and electricity costs will be 5% higher than the last three months.

A household using a typical amount of gas and electricity will see their annual bill go up by £94.

But forecasts suggest energy prices could come down sharply in the spring.

Click below for more details.

https://www.bbc.co.uk/news/business-67785266

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