Energy bills in Great Britain rise by 5% as price cap increases

Average annual household bill to jump by £94 to £1,928 in some of the coldest months of the year

A £94 increase to the average annual household energy bill has come into effect after the regulator upped its price cap in response to a rise in global gas market prices.

The change, taking effect from 1 January, means average households are beginning 2024 with a 5% increase in energy bills – at the start of what could be the coldest three months of the year.