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Energy prices for millions of British households are set to soar from April after the energy regulator said on Thursday that it would raise its cap on the most widely used tariffs by 54% due to record global gas prices. Regulator Ofgem said it had no choice but to raise the cap, which covers around 22 million households, following record global gas prices last year. Jonathan Brearley, Ofgem chief executive, said he could not rule out a further rise in October when the cap is updated again. ....
Energy prices for millions of British households are set to soar from April after the energy regulator said on Thursday that it would raise its cap on the most widely used tariffs by 54% due to record global gas prices. Regulator Ofgem said it had no choice but to raise the cap, which covers around 22 million households, following record global gas prices last year. Jonathan Brearley, Ofgem chief executive, said he could not rule out a further rise in October when the cap is updated again. ....