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."
If your skincare routine has been needing an upgrade, there's some good news waiting for you inside Trinity Leeds.
The shopping centre has just welcomed Moida, a brand-new beauty retailer specialising in authentic Korean skincare, bringing some of the world's most sought-after K-beauty products to Leeds.
Named after the Korean word meaning 'to gather' or 'come together', moida is all about making Korean skincare easy to discover and accessible for everyone.
Inside the new store that has taken over the old Claire's Accessories site, shoppers can expect an extensive range of handpicked products from some of the biggest names in K-beauty, including Beauty of Joseon, Dr. Althea, TIRTIR, Medicube, Biodance, and more cult-favourite brands.
The collection has been curated by a team of Korean beauty experts with close links to Korea, meaning customers can expect everything from viral TikTok sensations to exclusive products that are often difficult to get hold of elsewhere in the UK.
Moida K-Beauty has opened in Trinity Leeds. Credit: The Hoot Leeds
Steven Foster, Centre Director at Trinity Leeds, said: "With Korean skincare still increasing in popularity, moida brings an exciting new concept to the centre. Offering guests viral products alongside everyday essentials, plus the chance to browse new brands in-store will be a fantastic experience.
"We know moida is going to be a brilliant addition for both existing fans of K-beauty and those keen to discover it for the first time."
It's the latest announcement following the recent launches of Lane7, Footasylum, LEGO, Jerk Junction, The Fragrance Shop and schuh at Trinity Leeds.
Fantastic Leeds bakery owner claps back at one-star review calling him ‘silly man’
Daisy Jackson
One of Leeds' most popular independent bakeries has addressed a recent one-star review, which slammed them for being sold out of sandwiches.
Silver's Bakehouse, which comes from the same team behind Silver's Deli, suggested that the reviewer should 'work on their manners'.
The review hit out at the Farsley bakery for being sold out of sandwiches by the time they travelled 'an 80 minute round trip', describing owner Chris Riley as a 'silly man'.
The reviewer said they have been 'loyal high-spending customers since the first one opened' but wrote that they won't be visiting Silver's again after being left empty-handed.
They wrote: "It's all very good being mr instagram but things can go south very quickly silly man, make more sandwiches if you are going to be sold out in the first hour, don't risk the disappointment!!!"
Silver's Bakehouse has now publicly shared and responded to the review, stressing that they won't tolerate 'rudeness' and detailing the hard work that goes on behind the scenes.
He said: "Let me explain again for you, David…
Inside Silver's Bakehouse in Farsley. Credit: The Hoot Leeds
"We start baking at 5am and rarely finish before 6pm. Everything is made fresh, by hand, often taking days to prepare, in a very small bakery. You can literally see how small it is - and we utilise every inch.
"We make as much as we physically can. Sometimes we sell out earlier than we’d like, and we’re incredibly grateful that so many people want what we make. But there is, unfortunately, a limit to how much we can produce.
"For the record, I’m not overly enthused about being “Mr Instagram” - what a truly horrendous phrase to conjure up. I managed to avoid it for years, but needs must and all that.
"I am genuinely grateful for your custom, David. Rudeness, however, I’m considerably less enthusiastic about.
"So yeah, we’ll keep working hard. You keep working on those manners."
The Hoot -
26th August 2022 
