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From October, the UK’s energy price cap will rise by more than two per cent to £1,755, adding an extra £35 on to annual gas and electricity bills for those on the standard tariff. ‌

Ofgem changes the cap, which is largely based on the cost of energy on wholesale markets. However, this two per cent increase is partly down to the higher cost of transporting energy and the additional support measures that have been implemented for consumers. ‌

The price cap limits the rates charged for each unit of energy and standing charges, so your actual bill will still depend on your household’s energy usage. That means households that pay for their energy bills by direct debit and are on standard or variable tariffs will be capped at £1,755 a year. ‌

READ MORE: Ofgem confirms

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