Households will pay £2.7bn to cover cost of failed energy suppliers

Watchdog estimates consumers must pay £94 after years of failures by Ofgem

Billpayers were hit by a 54% energy price spike in April (Andrew Matthews/PA) (PA Wire)

Households will collectively pay an extra £2.7bn to cover the costs of 28 energy suppliers that have gone bust, according to a damning report by the National Audit Office.

It means each household faces paying an average of £94 more on their bills, adding to massive increases resulting from soaring gas and electricty prices and rises to food, fuel and other essentiuals.

Years of failings by energy regulator Ofgem were partly to blame for the bill increases, the NAO found.