UK households are preparing to pay higher bills this winter as the Ofgem price cap rises on Wednesday. The increase in energy costs come despite wholesale prices falling by 2 per cent over the three months prior to Ofgem’s latest price cap decision. UK households are preparing to pay higher bills this winter as the Ofgem price cap rises on Wednesday. It changes the price cap for households every three months, largely based on the cost of energy on wholesale markets. Advertisement AdvertisementAdvertisement AdvertisementThe energy price cap was introduced by the government in January 2019 and sets a maximum price that energy suppliers can charge consumers in England, Scotland and Wales for each kilowatt hour (kWh) of energy they use.