Millions of Britons are bracing for a sharp spike in their energy bills after Ofgem, the UK energy regulator, approved a record-breaking rise to its price cap.
Ofgem said the regulatory price cap—which is reviewed every six months—would rise by a historic 54 percent to £1,971 ($2,683) a year starting in April, the same month that taxes are set to go up in the UK.
