Energy price cap rise hits British bills as unions call for ‘emergency budget’ – as it happened
by Jasper Jolly from on (#5XQVR)
Live rolling coverage of business, economics and financial markets as energy costs rise and criminal investigation opened into P&O Ferries
- P&O Ferries: criminal investigations launched after staff sackings
- Bleak Friday: UK prices are rising from 1 April, from energy bills to TV
- Websites of UK energy suppliers crash in meter reading rush
- More UK firms expect to raise prices than at any time since 1980s
Today is the first day of the new energy price cap, which means the average dual fuel energy tariff has risen by more than 54% to 1,971.
Energy analysts at Cornwall Insight predicted that one to within 3% and today they've put out a forecast for the winter price cap, due to be announced in October.
While the government's 350 worth of support will provide some respite to consumers this time around - albeit not far enough - with the cap almost guaranteed to rise again, the government will need to look at expanding the scale and scope of this support after October at the very least.
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