Average UK household energy bill to hit £3,549 from October

80% rise

Eve Maddock-Jones
clock • 1 min read

The average UK household energy bill is now forecast to hit £3,549 from October, regulator Ofgem announced.

This would be an 80% rise on the current price cap, which currently sits at £1,971. Overall, households will pay around £2,300 more on their annual energy bills than they did October 2021. UK households have been faced with consistently rising energy costs since earlier this year when post pandemic supplies were put under further pressure by the outbreak of war in Ukraine. Jonathan Brearley the CEO of Ofgem said that Russia's attack was one of the main causes to the new bills forecast. In a statement, he urged the incoming prime minister to take urgent action to tackle the energ...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Economics / Markets

2025 investment trends: The updated reality in wealth management

2025 investment trends: The updated reality in wealth management

'The future of wealth management will lie in personalisation'

Julia Khandoshko
clock 16 January 2025 • 4 min read
UK inflation lowers to 2.5% in December

UK inflation lowers to 2.5% in December

Down from 2.6% in November

Sorin Dojan
clock 15 January 2025 • 2 min read
'It's a challenging time': Advisers react to record gilt yield rises

'It's a challenging time': Advisers react to record gilt yield rises

Clients worried about a weakening UK economy

Isabel Baxter
clock 13 January 2025 • 5 min read