FAMILIES will be wondering if any more energy bill hikes will hit their finances this year as the cost of living crisis continues. Households battled eye-watering energy costs last year as millions were hit with two increases to the energy price cap . This is the limit on the rates an energy supplier can charge for its tariffs. But changes to the cap saw bills jump by £96 in April, and by a record-breaking £139 in October . The increases saw low income families hit the hardest, with many having to choose between heating and eating this winter . Some families are having to put 50% more of their weekly budget towards gas and electricity costs. We explain whether more hikes are in place for 2022 – and how you can avoid them. Why are energy bills going up? Soaring wholesale energy prices are to blame. Most read in Money CLOSING TIME Lloyds and Halifax to close another 66 bank branches – see the full list FEE HIKE Amazon to hike Prime subscription prices by up to 20% COD HELP US! Half of Britain's 10,500 fish and chip shops could CLOSE due to soaring prices ACT FAST Martin Lewis urges… Read full this story
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Will energy bills go up this year and by how much? have 332 words, post on www.thesun.co.uk at January 12, 2022. This is cached page on wBlogs. If you want remove this page, please contact us.