BRITISH household energy price cap will rise four per cent in the fourth quarter of 2026, the country’s energy regulator Ofgem said on Wednesday.
From 1 October to 31 December, the price cap will rise by 60 pounds (about US$82) per year to 1,723 pounds (about $2,343) for the average household using both electricity and gas, according to Ofgem.
The energy price cap protects around 22 million households on default tariffs by limiting the maximum rates and standing charges that energy suppliers can charge. It is updated every three months to reflect changes in the underlying costs of supplying energy.
The rise from October is pushing household bills to their highest perunit level in three years, and the price cap will further rise in January next year, according to energy consultancy Cornwall Insight.
Mixed signals over the next stages of the Middle East conflict have seen gas prices spike over recent weeks, it said, adding that this combined with a summer heatwave across Europe, supply disruption in Norway and strong demand from Asia have led to low winter gas stock levels. — Xinhua
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