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Energy bills could go up by 40%
Energy bills could rise from £1,050 on average to almost £1,500
Household energy bills could increase by as much as 40% this winter, the BBC has learned, as oil and wholesale gas prices hit record highs.
The increases could mean households paying £400 more a year on average for their gas and electricity, senior industry sources have said.
The increase is far more than analysts have predicted in recent months.
It would put more pressure on homeowners already struggling with higher food and fuel costs.
Announcements are most likely to come in August, when energy bills are not at the forefront of people's minds, says BBC business correspondent Nils Blythe.
There is a great reluctance in the industry to be the first to reveal a big rise, so the rises may be unveiled in stages
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