The energy price cap will increase to £3,549 a year from October

Ofgem have just announced that the energy price cap will rise to £3,549 in October. A further price rise in January is expected. So, from October, you can expect to pay around 52p per KWh for electricity and 14p per KWh for gas. The Government have announced that energy bills will be discounted by £66 per month from November to April and both candidates for Prime Minister, Liz Truss and Rishi Sunak, have indicated that more help will be need for those who will be struggling to pay. This price rise is actually very bad news for energy companies, simply because millions of people will not be able to pay them, leaving huge holes in their balance sheets. This Winter may see one , or more, of the larger energy suppliers going bust.

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