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What is the new energy price cap and when is it going up?

NEWS… BUT NOT AS YOU KNOW IT

Brits are set to pay more for their energy from April 2023 under plans unveiled by Jeremy Hunt in his autumn budget.

Delivering his Autumn Statement in the Commons, the chancellor outlined his vision for what he referred to as ‘energy independence’ from Vladimir Putin and ‘efficiency’.

Mr Hunt confirmed the energy price cap would rise, meaning higher bills for millions of people.

But as prices everywhere soar due to the rise in the cost of living, just how much will the cap be going up by – and why are the price increases happening?

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