Ofgem has confirmed the price cap on default tariffs for direct debit customers will rise by £730 – or 21% - from January to £4,279 due to rising wholesale costs. The hike will have a more limited impact on the 26 million households on standard variable tariffs whose rates will continue to be subsidised by the government to freeze annual energy bills for a typical dual fuel customer at £2,500.
Ofgem increases price cap by £730
