Regulator Ofgem increased its price cap by 5% to reflect a rise in wholesale energy prices. The increase comes as many Britons contend with a cost of living squeeze and the government continues to grapple inflation. Though inflation slowed sharply last month, that was partly down to lower energy costs.
LONDON, Aug 26 The cost of energy for British consumers will rise by 80 per cent from October, regulator Ofgem said on Friday, taking average annual household bills to £3,549.