Gas price hikes: Will my energy bills rise?

Households are facing big rises in the cost of powering their homes thanks to an unprecedented spike in energy costs, while a number of energy firms are expected to go out of business this year.

Amid warnings of the lights going out this winter, Kwasi Kwarteng, the business secretary, has urged people not to worry, stating that the UK’s energy supplies are secure and the failure of some energy firms is “no cause for alarm”.

It’s not expected that gas will ‘run out’, though if prices jump further, some industries will see their costs increase so far that their business becomes unviable.