Ofgem Slashes Households with £1,723 Cap as Burnham's Energy Vow Collapses

Ofgem confirmed a 4% rise in the energy price cap from October, pushing the average annual dual fuel bill to £1,723 — the highest level in three years. For 22 million households on default tariffs, the spike wipes out the £45-a-year saving from Prime Minister Andy Burnham's headline-grabbing VAT cut on electricity, announced in his first week in office. The rise follows a brutal 13% jump in July, driven by surging global gas prices linked to the Middle East...