Household energy bills set to go up

HOUSEHOLD energy bills are set to rise by around 1% in October, despite lower wholesale costs, according to new forecasts.

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The typical household energy bill is expected to rise by £17 to £1,737 per year when regulator Ofgem’s new price cap comes into force, experts at Cornwall Insight have predicted.

Ofgem, which sets the limit on what energy companies can charge customers, is set to confirm its latest price cap on August 27.

Cornwall Insight’s latest prediction is a turnaround from its previous forecast in July that bills would drop by 1% from the current £1,720 in October due to easing Middle East tensions.