00:00The cost of energy is set to rise in January for households as the energy price cap is
00:06increasing. As a result of this increase, the typical household's yearly bill is thought
00:10to jump to around £1,738 on average. This will be the second increase in Ofgem's price
00:17cap this winter. The energy price cap itself establishes the maximum rate that energy suppliers
00:23can charge customers for the standing charge in unit cost of electricity and gas supplies.
00:29Analysts have reported that bills are around 50% higher than pre-Covid levels and that
00:35it's predicted they will rise by a further 3% in April. Back in 2022, it was reported
00:41that energy prices jumped due to the conflict between Russia and Ukraine. Dr Craig Lowry
00:46said that, with a Trump presidency on the horizon and an uncertain geopolitical situation
00:52in the Ukraine and the Middle East, the uncertain wholesale market looks set to remain. But
00:57what do you think about the rise in energy cap prices?
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