Cost of Living: Energy price cap set for record rise to £3,549 in October

Many households are facing the stark reality of being unable to afford their energy bills this winter.

Cost of Living: Ofgem says energy price cap will rise to record £3,549 in October iStock

The typical household gas and electricity bill will increase to £3,549 in October, after Ofgem announced a new increase to the energy cap on Friday morning.

That is a rise of 80% and means millions of people will see a huge rise in the amount they pay for their energy from the start of next month.

Those on default tariffs paying by direct debit will see an increase of £1,578 – from £1,971 to £3,549 per year.

The 4.5 million pre-payment meter customers, who are often the most vulnerable and already in fuel poverty, will see an even more punishing increase, with their average annual bill set to go up to £3,608.

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