Branch2 Intelligence
Households urged to send in meter readings as energy price cap jumps 13%
Key takeaway
Ofgem raises energy price cap 13% to £1,862/yr, adding £221 to average household bills.
- Step 11st-order: Ofgem raises price cap 13% to £1,862/yr, increasing household energy bills by £221.
- Step 22nd-order: Higher bills reduce household disposable income, curbing discretionary spending on non-essential goods and services.
- Step 33rd-order: SMEs in hospitality, retail, and leisure face demand contraction as consumers tighten budgets.
Source: Independent Business
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