There’s still two weeks of the Tory leadership contest to go but by Friday the scale of the energy crisis that awaits the next prime minister will be clear for all to see. This is when Ofgem is due to announce the new level at which energy bills will be capped. After the price cap hit £1,971 in April, the forecasts point to trouble ahead. Cornwall Insight predicts the October rise could see bills go up to £3,582 a year. This could go up to £4,266 by January with suggestions it could even reach £6,000 by April next year.
After Friday, both candidates will come under greater pressure to spell out what relief they would offer struggling households
It means the terms of the debate are once again on the economy. In advance of the announcement, the Sunak camp is out on the attack – with a campaign spokesman saying Truss must choose between tax cuts or cost of living support.
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