Ofgem confirms household energy bills will rise again in January

The typical bill for a household in England, Scotland and Wales is to increase from £1,717 to £1,738-a-year, or around £1.75-a-month.

PA Media

22nd Nov 2024

Posted in

Economy
Fife

Ofgem has confirmed household energy bills are to rise again from January 1 as it announced a 1.2% increase to its price cap.

The regulator said the increase would see the typical bill for a household in England, Scotland and Wales increasing from £1,717 to £1,738-a-year, or around £1.75-a-month.

It follows the price rising by 10% in October.

Tim Jarvis, director general of markets at Ofgem, said: “While today’s change means the cap has remained relatively stable, we understand that the cost of energy remains a challenge for too many households.

“However, with more tariffs coming into the market, there are ways for customers to bring their bill down so please shop around and look at all the options.

“Our reliance on volatile international markets – which are affected by factors such as events in Russia and the Middle East – means the cost of energy will continue to fluctuate.

“So it’s more important than ever to stay focused on building a renewable, home-grown energy system to bring costs down and give households stability.

“In the short-term though, anyone struggling with bills should speak to their supplier to make sure they’re getting the help they need and look around to make sure they’re on the best, most affordable deal for them.”