Households can expect to pay an additional £693 on their annual energy bills from April this year.
Ofgem has announced that the energy price cap will rise by 54 per cent, affecting around 22 million homeowners across England, Wales and Scotland.
The rise will see average annual bills spike by around £693 to £1,971 for standard tariff customers and £2,017 for prepayment meter customers.
The huge new price cap, which follows an 12 per cent rise from last October, will come into force from April 1.
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Following this news, energy experts have revealed some simple steps that every household can take to cut their energy bills by more than £700 per year, reports Hull Live.
Turn off appliances when they aren't in use - don't leave them in standby
Uswitch say that turning off chargers, TVs, computers, laptops and dishwashers at the wall when they are not in use can save you £35 per year.
Will Owen, energy expert at Uswitch said: "The Energy Saving Trust estimates you can save around £35 a year by remembering to turn your appliances off properly, and not leaving them in standby mode."
Switch to LED bulbs
Making the switch to LEDs can save households £3 a year.
“You should also check if your bulbs are LEDs rather than less energy efficient ones, such as halogens," Will says.
"Every 50-watt halogen bulb that is swapped for an LED alternative saves households £3 a year. It may not seem like much, but it all adds up over every light in your home."
Put your heating on a timer
Setting a timer for your heating, instead of leaving it on all day, can make a big difference to your energy bills.
Michael Reading at Housetastic said: “Set a timer early
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