the rise would add further cost to households following the increase in the energy price cap last week. that s on top on rises caused by the higher energy price cap that came into effect last week. the business secretary, kwasi kwarteng, will face industry bosses later today as the sector deals with an unprecedented spike in wholesale costs. kevin peachey reports. just like the season s weather, bill payers are being warned the worst is yet to come. a host of energy companies have collapsed in recent weeks. their customers moved to a new supplier are already having to pay hundreds of pounds more a year than they expected. the price cap does protect millions of people from extreme rises in bills, but analysts say, next year, they will still face a bill shock.
good afternoon, and welcome to bbc news. millions of households are now facing much higher power bills. businesses and analysts are warning that the sharp rise in energy prices will lead to households paying more for builds and everyday products. the boss of supermarket iceland said price rises were now inevitable, the business secretary has said uk gas supplies would be sufficient this winter, but acknowledged that more energy firms would fold in the coming months. kwasi kwarteng told energy providers that developing renewable sources will be the only way to protect against soaring gas prices long term as our personal finance correspondent kevin peachey reports. just like the season s weather, bill payers are being warned the worst is yet to come. a host of energy companies have
deals with an unprecedented spike in wholesale costs. kevin peachey reports. just like the season s weather, bill payers are being warned the worst is yet to come. a host of energy companies have collapsed in recent weeks. their customers moved to a new supplier are already having to pay hundreds of pounds more a year than they expected. the price cap does protect millions of people from extreme rises in bills, but analysts say, next year, they will still face a bill shock. under the price cap, a customer now pays £1277 a year if they use an average amount of gas and electricity. analysts expect that typical bill to rise to £1600 when a revised but as yet undecided cap starts in april. compare that with a year ago, when you could have got a deal costing just over £850 a year. we are competing with the rest of the world, the rest of europe for gas supplies. unfortunately, it is the reality.
the business secretary has match, while compatriots said uk gas supplies would be sufficient this winter, but acknowledged that more energy firms maryna striletska would fold in the coming months. and svitlana grushko will assistant. france s stephanie frappart kwasi kwarteng told energy providers will be the var. that developing renewable sources monzul, became the first woman will be the only way to protect to officiate a men s top division against soaring gas prices long term, match in in ukraine in 2016. as our personal finance wales take on the czech republic correspondent kevin peachey reports. on friday, when they ll be just like the season s weather, captained by aaron ramsey. bill payers are being warned the worst is yet to come. thejuventus midfielder has today been speaking of his pride at a host of energy companies have being given the armband despite not collapsed in recent weeks. featuring at all in the their customers campaign so far. moved to a new supplier with gar
energy firms would fold in the coming months. kwasi kwarteng told energy providers that developing renewable sources will be the only way to protect against soaring gas prices long term, as our personal finance correspondent kevin peachey reports. just like the season s weather, bill payers are being warned the worst is yet to come. a host of energy companies have collapsed in recent weeks. their customers moved to a new supplier are already having to pay hundreds of pounds more a year than they expected. a price cap does protect millions of people from extreme rises in bills but analysts say next year they will still face a bill shock. for many, it is a worry, finding the money to cover it. i always said that if you had to walk around your house wearing a cardigan, there was something wrong. and guess what, i m going around the house with a cardigan on because i only put my heating on for half an hour in the morning to take the chill away and half an hour at night. the rest of the