Tens of millions of households are being hit with the biggest energy price rise on record this week, say analysts.
As of Friday April 1, average fuel bills will rise by 54 per cent as Ofgem increases the energy price cap, meaning typical households will face paying out nearly £2,000 per year on electricity and heating.
This means the cost of keeping the average UK home warm will have doubled within just 18 months and burdened around 22 million households with the highest real-terms price increase since records began, according to House of Commons Library researchers commissioned by Labour.
The government is giving a £150 council tax rebate for April to cover some of the costs, and will hand households a £200 “discount” – functioning as a loan to be paid back over five years – on energy bills this October.
But the support package falls well short of what is needed to help people through the predicted drop in living standards, experts and opposition MPs have warned.
“On the day when energy bills rise by record amounts for millions of families, it is shameful that Boris Johnson and Rishi Sunak are refusing to support the British people facing a cost of living crisis,” said Ed Miliband, Labour’s shadow secretary of state for climate and net zero.