UK Ofgem Price Cap Announcement: customers to see a ~54% increase

• Further measures include enabling Ofgem to update the price cap more frequently than every six-months under exceptional circumstances; measures to be announced on Friday.
• Energy companies will be allowed to pass these higher costs on from April, when they come into effect.

Breakdown:

• Direct Debit: GBP 1971 (prev. GBP 1277); +54%
• Prepayment: GBP 2017 (prev. GBP 1309); +54%
• Standard Credit: GBP 2101 (prev. GBP 1370); +53.36%

via Ofgem