- Energy regulator Ofgem has raised its price cap by four per cent, bringing the average annual household energy bill to £1,723.
- The £60 annual increase equates to an extra £5 per month for typical households using both gas and electricity.
- Money saving expert Martin Lewis clarified on Good Morning Britain that the price cap increase only applies to standard variable tariffs.
- Consumers currently on fixed energy deals will not be affected by the price cap rise until their existing contracts end.
- The price cap increase comes as households face heightened financial pressure from energy bills ahead of the winter season.
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