Energy price cap LIVE – Ofgem 11am announcement to reveal how YOUR energy bills will rise as fuel poverty fears grow

Planned rise on April 1st

Households face a planned rise on National Insurance, council tax hikes and higher energy bills from April 1.

Soaring inflation is adding £180 a year to grocery bills and soaring crude oil prices are pushing up prices at the pumps.

Energy watchdog Ofgem was forced to bring forward its planned price cap rise on gas and electric bills to today, as the government scrambles to help Brits with the cost of living crisis.

Suppliers will be allowed to hike the basic tariff for 22 million households, meaning families are set for huge increases in bills.

‘Millions are waking up to the reality of huge energy price rise’

Consumer expert Martyn James said: “It’s going to be Black Thursday. Millions of households across the UK are waking up to the reality of huge energy price rise hits, while inflation inches ever up and all the main bills we pay look set to rise.

“Whatever you do, don’t panic – there is help out there. But the Government need to know that it’s nowhere near enough for millions of hard-up people.”

Brits to be hit hard

Brits face a triple-whammy of…

• Average gas and electric bills hitting £2,000 a year as the Government’s price cap is raised.
• Mortgage payments going up as interest rates set to double from 0.25 per cent to 0.5 per cent – the second increase in two months.
• Shoppers hit by the highest price rises in nearly a decade
• Petrol prices to rocket to record levels.

Rishi Sunak set to unveil emergency package

Rishi Sunak will head to the Commons this morning to unveil an emergency package to help the most hard-up.

The Chancellor is expected to give everyone £200 off their energy bills and slash council tax on band A-C households by hundreds more.