The Chancellor Rishi Sunak has announced new £15 billion package of targeted government support to help with the rising cost of living

The energy price cap could increase by nearly a thousand pounds to £2,800 in October, the Ofgem chief warned MPs this afternoon.

Jonathan Brearley told the Commons Business Committee the price cap which is now at £1,971 would rise by almost £1,000 because of the volatile gas market.

He said: “I’m afraid to say conditions have worsened in the global gas market, with Russia’s invasion of Ukraine.

“Gas prices are higher and highly volatile.


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