Households face a painful hike to their energy bills in April, with government support tapering off and the price cap remaining above the subsidised rate. Watchdog Ofgem has slashed the price cap to £3,280 per year for average households for the second quarter of 2023, an almost £1,000 drop from the current record level of £4,279 per year – reflecting sharp falls in wholesale energy prices. However, Brits will be exposed to a higher subsidised rate of energy bills, with Chancellor Jeremy Hunt reducing the subsidy levels…
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