# Brutal January price cap on the horizon as gas prices hit four year highs

By Simon Francis — 2026-09-09

Simon Francis, coordinator of the End Fuel Poverty Coalition, said: “The wholesale cost of gas has hit a high not seen since December 2022, while heating oil prices have also surged upwards again.

“The Ofgem price cap for January is being calculated on prices like these, which means it could be brutal for households already struggling. Those who use heating oil or are on some heat networks and are not on the price cap may see increases even sooner.

“While Ministers cannot control the markets, they can decide how exposed our bills are to them.

“Rather than listen to arguments that would keep the country more exposed to lurches in the gas price, the Chancellor must use this Budget to break the link between gas prices and electricity bills, fund the debt relief and targeted support that households need this winter and back the long term energy efficiency measures that can protect the public from future market volatility.”

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