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Energy price cap expected to surge to £2,800 in October, Ofgem boss warns
The energy price cap is expected to surge from £1,971 to £2,800 a year in October, the boss of Ofgem has told Rishi Sunak.
Jonathan Brearley, the energy regulator’s chief executive, told MPs he will write to the chancellor explaining that he expects the cap to be “in the region of £2,800” when it is reviewed later this year.
The claim piles further pressure on Mr Sunak to help struggling Britons through a deepening cost-of-living crisis.
Mr Brearley warned that gas prices are “higher and more volatile” in the wake of Russia’s invasion of Ukraine.
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