Energy Bills Soar Despite Falling Wholesale Prices: A Cost-Of-Living Crisis Deepens

Despite declining wholesale energy prices, households are facing rising bills due to increased grid maintenance costs, government policies, and the volatility of renewable energy sources. The Ofgem price cap increase will add around £35 to the average annual bill, pushing it closer to £1,755. This hike comes at a time when many already face financial strain from soaring living costs driven by inflation.