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Proposed energy price cap tweak may mean household bills rise faster

Ofgem outlines way to keep pace with fast-moving market prices, which may mean more than 15m homes face higher bills more often

Energy regulator Ofgem has set out plans to tweak the energy price cap more often to keep pace with fast-moving market prices, in a move that could mean over 15m households face higher bills more often.

In response to lobbying by energy companies, and after the collapse of 21 smaller suppliers since wholesale prices spiked in September, Ofgem has proposed a change to the rules for the first time since price capping was introduced in early 2019.

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