Ofgem, the energy regulator, recently announced the default energy price cap will change from its current level of £1,042 to £1,138. The increase of £96 includes an additional £23.69 energy suppliers can charge a year to help them cover for coronavirus-related costs. Separate research from Compare the Market's financial confidence tracker shows annual energy costs would only have to rise by an average of £85 in order to tip households with children at home into financial difficulty. Peter Earl, head of energy at Compare the Market, said: 'Households that do not switch when their fixed tariff ends very often face a significant increase to their energy bills, as they will be automatically moved to their supplier's higher priced standard tariffs.