Millions of consumers face a big rise in their energy bills from April when an increase in the new price cap is likely to take effect, the energy regulator has warned. Around 11m households on default tariffs saw their bills capped last week in a huge shakeup of the market, resulting in an average saving of £76. But Dermot Nolan, the chief executive of Ofgem, said customers should be ready to pay much more when he publishes an updated level on the ceiling in February, which will take effect in April. “Wholesale costs have risen significantly over the past year. As a result it is likely we will announce an increase, ... (full story)