Households warned of ‘worse to come’ as energy bills rise

Households have been warned there is “worse to come” on energy bills after Ofgem raised its price cap to a three-year high.On Wednesday, the regulator announced typical annual household gas and electricity prices will rise by £60 from October.The 4pc rise follows a 13pc jump in July as the Iran war pushed up global oil and gas prices.Analysts at Cornwall Insight, the energy consultancy, said there was no relief in sight for households in January if the conflict in the Middle East continues.It said a further 9pc rise should be expected in the new year, putting an average January bill up to £1,872 a year, £149 higher than the prices coming into effect from October.The forecast underlines the challenges faced by Andy Burnham as he stakes his reputation on lowering the cost of living.Craig Low