Millions Counting Cost Of Higher Energy Bills

MILLIONS of households are facing a “ticking timebomb” of soaring energy costs that is likely to go off in six months time, energy experts have warned.

- Geoff Ho

Annual bills are already set to increase by £139 this month – but there are fears they will rise even higher because of the surging cost of gas and electricity.

Prices have gone up because energy regulator Ofgem has lifted its cap on standard variable tariffs for the next six months.

Protect

But experts say the cap – which is supposed to protect people from excessive rises – does not factor in the huge swing in wholesale costs and consumers face another hike in April, when Ofgem’s next price cap review is due.

Last night they urged the Government to act fast to protect the most hard-up households.