The average bill for households on a standard variable tariff in England, Scotland and Wales will rise from £1,738 a year to £1,849. It follows a recent spike in wholesale prices.
Ofgem has predicted that bills will reduce in the summer, but fuel poverty campaigners said Tuesday’s price cap announcement will add to the burden of the most vulnerable.
The latest analysis from the Household Energy Price Index (Hepi) shows London ranks among the most expensive European cities for household electricity.
The average European electricity end-user price saw a notable 4 per cent increase in January, currently standing 1 per cent higher compared with the level recorded a year ago, the Hepi report states.
The least expensive electricity price per kilowatt hour was recorded in Budapest (€9.07), followed by Kyiv (€9.76) and Belgrade (€10.50).
Amsterdam was second-highest (€18.26), followed by Bern (€17.41). Gas prices in Dublin were listed as eighth-highest (€12.01), while London came in at 18th highest out of the 27 European capital cities with €8.81.
Ofgem said rising global wholesale prices for energy are the main reason household bills are increasing in Britain.
square BILLS Energy bills to rise by £111 as Ofgem announces higher cap
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A major factor has been the Russia-Ukraine war. The pipeline delivering Russian gas to European countries through Ukraine was turned off at the start of the year.
He told Sky News: “The only way we have the energy security that British people deserve is by getting off fossil fuels that are controlled by petro-states and dictators.”
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