Ofgem will reveal the much-anticipated new price cap tomorrow morning.

The regulator brought forward the date of the announcement which was previously scheduled to take place on Monday 7th February.

In just a few hours from now, customers will learn what increase they are about to see in their energy bills from April 1st.

Analysts forecast the summer default tariff cap will increase by around 50% to approximately £1,915, placing more than £600 extra on the average annual energy bill.

It had previously been reported that the government is considering offering energy bill rebates to help customers cope with the price hikes.

Commenting about the new price cap announcement, Andy Prendergast, GMB National Secretary, said: “Energy is a basic need, not a luxury.

“This increase will bring real hardship to workers across the country, from public sector workers facing yet more real terms pay cuts, to the millions of people on universal credit.”

Article source: https://www.energylivenews.com/2022/02/02/hold-your-breath-ofgem-to-reveal-the-new-price-cap-tomorrow/