Energy giants could be forced to return millions of pounds held in customer accounts

Exclusive: ministers look at returning money built up in accounts as households brace for another energy bills hike

Energy giants would be forced to return millions of pounds held as surplus in customers’ accounts under proposals being considered by ministers, as households brace for another bill hike.

Costs are set to rise by around £500 a year, despite regulator Ofgem lowering its price cap on Monday, as energy bill support from ministers falls.

Ofgem is lowering its cap – the amount suppliers are able to charge – from £4,279 per year to £3,280, effective from 1 April. But the amount the average household will have to pay under the government’s “energy price guarantee” is set to increase from £2,500 to £3,000 from April.