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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 ta...

Experts warn the Government is not tackling the issue quickly enough as thousands more families face financial difficulties during the pandemic.

More than a quarter of a million households face soaring energy bills if they do not switch tariff soon, new research has revealed. Some 167 fixed tariffs end this month which will see customers automatically  switched onto more expensive 'default' deals if they do not switch tariff or provider when their plan comes to an end. The average increase to energy bills is £67 per household with the average annual cost of a fixed rate energy tariff ending in February coming in at £918, according to Compare the Market. If customers do not switch when their fixed tariff ends, energy companies are s...

Energy bills will rise for millions of households with most expected to see an increase of nearly £100 a year, in a time when many face financial difficulties. The energy price cap will rise to pre-pandemic levels for households, increasing by £96 to £1,138 for 11million default tariff customers, Ofgem has announced today. Bills will also increase by £87 to £1,156 for 4million pre-payment meter customers. The hike will come in on 1 April for six months with the changes blamed on a rise in wholesale energy prices. The rise is far higher than predicted by insiders. The energy price cap is ...

Most affordable places to buy UK (Image: EXPRESS) Richard Neudegg, head of regulation at Uswitch.com, said: “The pandemic has already placed many households under great financial strain. News of the price cap rising by an average of £96 from April will be a bitter pill to swallow for the 11 million default tariff customers with standard meters, many of whom are already struggling to make ends meet. “The price cap increase is an aftershock of last year’s lockdown, partly because many customers have struggled to pay their energy bills, plunging them into debt that suppliers have been una...