UK energy bills to hit three-year high as Ofgem announces 4% rise from October

British energy regulator Ofgem has announced a 4% increase in the energy price cap, effective from October. The rise means a typical household using average amounts of gas and electricity will pay an additional £60 per year, pushing bills to their highest level in three years.

The price cap, which sets the maximum unit rates that energy suppliers can charge, affects millions of households across the United Kingdom. The October adjustment comes as energy markets continue to experience volatility.

The increase will take effect on 1 October and will remain in place for the quarter. Consumer groups have urged households to check if they can find cheaper deals by switching providers before the higher rates come into force.