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Rolling coverage of the latest economic and financial newsWhat is the energy price cap and can I cut my bill?Citizens Advice fears that households with children and those on lower incomes will struggle to keep warm this winter:Alex Belsham-Harris, head of energy policy at Citizens Advice says: “Energy prices remaining relatively stable over winter will offer cold comfort to millions across the country already struggling to afford bills. It comes as people are falling further and further behind on their energy bills, with the amount owed to suppliers now a record £3.7 billion.“As colder weather sets in, we’re particularly worried about households with children and those on lower incomes, who are most likely to struggle with their heating costs.“The decision to introduce a price cap change in the middle of winter was taken by Ofgem in 2022 and was described as an inhumane policy at the time. No wonder it has been opposed by campaigners ever since as households will have to find more money to keep themselves warm at the worst possible time.“Already the average household will have paid over £2,500 extra for their energy than had we not been so exposed to volatile energy markets. Continue reading…
Rolling coverage of the latest economic and financial news
Citizens Advice fears that households with children and those on lower incomes will struggle to keep warm this winter:
Alex Belsham-Harris, head of energy policy at Citizens Advice says:
“Energy prices remaining relatively stable over winter will offer cold comfort to millions across the country already struggling to afford bills. It comes as people are falling further and further behind on their energy bills, with the amount owed to suppliers now a record £3.7 billion.
“As colder weather sets in, we’re particularly worried about households with children and those on lower incomes, who are most likely to struggle with their heating costs.
“The decision to introduce a price cap change in the middle of winter was taken by Ofgem in 2022 and was described as an inhumane policy at the time. No wonder it has been opposed by campaigners ever since as households will have to find more money to keep themselves warm at the worst possible time.
“Already the average household will have paid over £2,500 extra for their energy than had we not been so exposed to volatile energy markets.
