Fuel Costs

According to the Daily Telegraph, British households could face a sharp rise in their energy bills before October as suppliers grapple with surging wholesale costs.

Regulator Ofgem this morning confirmed that the price cap will jump to £3,549. The 80% increase equates to bills of almost £300 a month on average for a typical household.

While the rise officially comes into force from October 1, Ofgem warned some suppliers could start to increase direct debits before that date to spread costs.

The jump in prices will pile more pressure on strained household budgets ahead of a tough winter for British families.