Proactive Investors - Energy bills have today been increased by 10% for typical households ahead of the colder winter months.
Having previously announced the increase, Ofgem’s new £1,717 energy price cap will come into force from Tuesday and last until the end of December.
This means households on standard variable tariffs will be left paying more per unit of electricity and gas over the next three months, alongside higher daily standing charges.
Electricity and gas will cost 24.50p and 6.24p per kilowatt hour respectively, against 22.36p and 5.48p over the summer, after two cuts to prices earlier this year.
The cap itself, which reflects what a typical household would pay on an annual basis, is £117 cheaper than between October and December 2023.
However, daily standing charges, paid regardless of usage, will sit at 60.99p for electricity and 31.66p for gas, after being priced at 53p and 30p last October.
The rise comes as many households brace for another tough winter, with research on Monday showing almost half of Brits were planning to cut energy usage to save on bills.
Rates remain inflated by historic standards, with the increase also coinciding with the end of government winter fuel support for roughly 10 million pensioners, alongside an increase in energy debt across the country over recent weeks to £3.7 billion.