People urged to ‘shop around’ for better energy fix before new Ofgem price cap next week

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Household energy bills are set to rise by around 1 per cent in October despite lower wholesale costs, according to new forecasts. The typical household energy bill is expected to rise by £17 to £1,737 per year when regulator Ofgem’s new price cap comes into force, experts at Cornwall Insight have predicted. ‌

Ofgem , which sets the limit on what energy companies can charge customers, is due to confirm its latest price cap on August 27. ‌

Consumer group Which? is encouraging energy customers to “shop around” for a fixed energy deal before the announcement and recommends “looking for deals cheaper than the current price cap, not longer than 12 months and without significant exit fees”. ‌

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