Gas and electricity costs to rise by an average of £139 for around 11 million households in Britain, as price cap is raised
The price cap, set twice a year by the regulator, affects 11 million households in England, Wales and Scotland who have never switched suppliers or whose discounted deals have expired. Northern Ireland sets its own cap.
When wholesale energy prices fell last summer following the first lockdown, Ofgem reduced the level of the cap by £84 for last winter. While it restricted expensive prices at some companies, there have been accusations that the cap gave other firms an excuse to raise their prices up to same level as the cap.
The result is that we've seen more standardised pricing across energy companies at those top rates, but not necessarily a market that's cheaper for most customers.
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