Around 24 million UK households are expected to be affected.
The energy price cap is to be a hiked by a record 80% from October to £3,549 a year, Ofgem has confirmed this morning, reports The Manc.
As the rising cost of living crisis worsens and continues to make its impact felt nationwide, and after inflation hit another new 40-year UK high of 10.1% earlier this month, millions of households across the UK on a typical default tariff are set pay an extra £1,578 on their energy bills in as the price cap is raised from 1 October 2022.
It follows an already 54% increase in April, which saw average bills surge to £1,971 a year, and comes ahead of the predicted tripling of average bills in April 2023.
Around 24 million UK households are expected to be affected by the price spike.
The new price cap level is based on "a transparent methodology and calculations" by energy price regulator Ofgem.
The price cap puts a maximum per unit price on energy that reflects what it costs to buy energy on the wholesale market and supply it to our homes, and it also sets a strict and modest profit rate that suppliers can make from domestic energy sales - but, unlike energy producers and extractors, most domestic suppliers are currently not making a profit, according to Ofgem.
Ofgem says the price cap increase reflects the "continued rise in global wholesale gas prices" - which began surging post-lockdown and have been driven to record levels by Russia slowly switching off gas supplies to Europe.
The confirmed energy price cap rise also comes as Ofgem’s CEO warns of the hardship energy prices will cause this winter and urges the incoming Prime Minister and new cabinet to provide "an additional and urgent response" to continued surging energy prices.
"We know the massive impact this price cap increase will have on households across Britain and the difficult decisions consumers will now have to make," said Jonathan Brearley - CEO of Ofgem.
"I talk to customers regularly and I know that today’s news will be very worrying for many.
"The price of energy has reached record levels driven by an aggressive economic act by the Russian state. They have slowly and deliberately turned off the gas supplies to Europe causing harm to our households, businesses and wider economy [and] Ofgem has no choice but to reflect these cost increases in the price cap.
Ofgem raises energy price cap to £3,549 from October / Credit: Pxhere
"The government support package is delivering help right now, but it’s clear the new Prime Minister will need to act further to tackle the impact of the price rises that are coming in October and next year.
"We are working with ministers, consumer groups and industry on a set of options for the incoming Prime Minister that will require urgent action [but] the response will need to match the scale of the crisis we have before us.
"With the right support in place and with regulator, government, industry and consumers working together, we can find a way through this."
This Leeds-based family-owned business is famed for supplying pubs, clubs and even ordinary people's homes with classic jukeboxes.
Started up in 1978, Sound Leisure really is a local business like no other, creating and distributing classic jukeboxes to over 40 countries.
This music-machine-making company notes that 75% of the jukeboxes they manufacture and sell throughout the year are bought for everyday homes.
The remaining 25% of orders are for the all-expected hospitality venues like bars, clubs and hotels, with the jukeboxes sometimes bought for company headquarters and retail outlets too.
Although there are other jukebox manufacturers, especially across the pond in the US, Sound Leisure is the only factory in the world that creates jukeboxes to play out across all formats: CD, vinyl and digital.
This jukebox business even runs the world's only 'Custom Shop', which is a design service that offers any music lovers the chance to personalise their pristine player.
So whether you're after a themed jukebox, customisable nameplate or even a bespoke design, this jukebox company's website states: "If you can dream it, we can build it".
One of Sound Leisure's prized products is the music machine inspired Sgt. Pepper's Lonely Hearts Club Band-themed jukebox which any fan of The Beatles would dream of being its lucky owner.
And there really isn't anything they can't do, as alongside creating classic jukeboxes, the same team even make pinball machines, football tables, LED signs and more.
With CD and vinyl jukeboxes from £5,000 and digital jukeboxes quoted from upwards of £12,000, we're going to need a fair few rainy days to save up our money.
However, you can still marvel at these magnificent music machines without having to dip into your savings, with guided tours starting from just £15.
If you're up for learning a little bit more about music technology or simply after admiring these classic jukeboxes in all their glory, you can find out more about the factory and book your guided tour ticket HERE.
Two giant balloon dog sculptures by acclaimed international artist have landed in Leeds
Clementine Hall
A special Pride activation featuring internationally acclaimed contemporary artist Whatshisname has popped up in Leeds.
Marking 20 years of Leeds Pride and 10 years of Victoria Leeds, the exhibition called ‘Two milestones, One Pop of Pride’ is bringing a playful public art experience to the city.
The exhibition, curated by Castle Fine Art located in the Victoria Quarter, features a collection of artworks and oversized sculptures by the artist, whose distinctive creations have earned a global following.
The striking centrepiece of the activation is two of Whatshisname's iconic POPek Balloon Dog sculptures, one is positioned on the central mosaic in Victoria Quarter and the other outside John Lewis in Victoria Gate.
Image: The Hoot Leeds
Victoria Leeds centre director, Jo Coburn, said: "This year presents a unique opportunity to celebrate two important milestones for Leeds. As we mark 10 years of Victoria Leeds and 20 years of Leeds Pride, we wanted to create something memorable that reflects the city's creativity, inclusivity and vibrant cultural scene. Whatshisname's work perfectly captures a sense of joy, individuality and self-expression, making it an ideal way to celebrate Pride with our visitors."
Artist, Whatshisname, said: "Bringing the POPek balloon dogs to such a vibrant and culturally rich city as Leeds is an absolute thrill for me. It’s hard to believe it’s been a decade since these playful, cheeky characters first came to life. Over the years, they’ve travelled the world, sparking smiles wherever they go.
“I can’t wait for the people of Leeds to interact with them, feel that sense of nostalgia and humour, and join us in the Victoria Leeds and Leeds Pride celebrations!"
The Whatshisname exhibition will be on display at Victoria Leeds until Monday 27 July.
The Hoot -
26th August 2022 
