Survey: How will the energy price cap and other costs affect you?

Cost of living is set to rise

Cost of living is set to rise - Credit: PA

Energy prices are set to rise by almost £700 a year for millions of households, as regulator Ofgem announces a rise in the price cap on bills to £1,971.

The new price cap will be in place from April 1, increasing by £693 - or 54 per cent - from £1,277 to £1,971 per year. 

From April 6 this year, some will also see a 1.25 per cent increase in National Insurance contributions.

With prices and taxes increasing, we'd like to hear your thoughts and concerns on the cost of living: