Burning Money - energy bills are rising again

Available for over a year

Energy bills are set to rise by an average of £693 per year in England, Scotland and Wales. That's because the the cap imposed by the regulator, Ofgem, has been increased by 54%, after an unprecedented rise in wholesale gas prices around the world. This comes amid a cost of living crisis, with prices rising sharply and taxes also going up. The Chancellor, Rishi Sunak is offering a £200 discount on electricity bills - to be repaid later - and a £150 council tax rebate for many households. Labour has called for VAT on energy bills to be scrapped, to help people cope with the huge spike in the cost of living. Radio 1 Newsbeat's Ben Mundy has been talking to two young mums struggling to pay the bills, and finding out from a money saving expert if there's anything we can do to limit the soaring costs. Image credit: roberthyrons via Getty Images.