Ofgem has announced that the energy price cap - which sets the limit that providers can charge their customers for gas and electric - will rise from £1,971 a year to £3,549 a year from October.

Alexa Knight, Associate Director for Policy and Practice, Rethink Mental Illness:

“Today's news will be a hammer blow to households up and down the country, further increasing anxiety about the future and the levels of distress we hear daily through our dedicated Mental Health & Money Advice Service.

“Mental health and money worries are intrinsically linked, and we urgently need a clear response from government to an economic crisis that has the potential to fuel a mental health emergency. There is a growing feeling of powerlessness which will not subside until we see concrete plans from the government about how they will provide targeted support through the difficult months ahead. With mental health services already facing record demand, we need more than a recognition of the problem. We need urgent action to address the gravity of the situation people are facing. This cannot arrive a minute too soon.”

Visit Mental Health and Money Advice's cost of living hub for useful information on managing your finances and mental health during the current crisis.