British households will be facing a “significant rise” in energy prices as the price cap is set to be raised next spring, the head of the UK’s energy regulator said on Friday. Ofgem chief executive Jonathan Brearley said the price cap, set by the regulator to control the cost of gas and electricity, will be raised by a significant margin in April. “We can’t predict everything, and the wholesale market, as we’ve seen, has gone up and down extremely quickly so we can’t predict fully what that will be,” he told BBC Radio 4’s Today programme. “But, looking at the costs that are in the system, we are expecting a significant rise in April.” But Brearley said the regulator has no plans to raise the price cap before April. “This is a really concerning time for customers,” he said. “We understand how difficult it is. The price cap is there …
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