Search Result for 'energy price cap'

Ofgem have unexpectedly announced an increase in the energy price cap.

Ofgem said it wants companies to use the extra funding to support struggling customers and write off bad debts.

Also Adam Scorer, chief executive of fuel poverty charity National Energy Action, said: “The scale of harm caused by these price rises needs to sink in. A warm home this winter will be pipedream for millions as they are priced out of a decent and healthy quality of life."

“There is a looming disaster that is already unfolding but it is going to get worse."

Christine Farnish said the regulator “gave too much benefit to companies at the expense of consumers”.

The nightmare scenario is more than £200 higher than previous forecasts, which were already grim, and heaps extra pressure on households across Britain.

Ofgem’s prediction is a huge leap on April’s price cap increase of 54%.

"Once again, we have proved that the EU is united and will not let anybody use energy as a weapon", the Czech minister of industry said.

The energy regulator confirmed that bills will rise by nearly £700 per year.