Price cap could jump to £2,800 warns Ofgem’s Brearley
The price cap in October could jump to £2,800, Ofgem CEO Jonathan Brearley has told MPs.
The price cap in October could jump to £2,800, Ofgem CEO Jonathan Brearley has told MPs.
Ofgem has launched a consultation into whether the default tariff price cap should be set every three months, instead of every six.
Current± takes a look at how the energy sector has reacted to the inclusion of an Energy Bill in the Queen's Speech.
Cornwall Insight is predicting the winter price cap will increase by a further £600 beyond last week’s 54% jump.
The Association for Renewable Energy and Clean Technology (REA) and the Electrical Contractors' Association have urged the government to take greater action to tackle the energy crisis.
A coalition of 38 civil society groups have called on government to support households facing surging energy bills, to scale up measures to reduce gas use and to drive forwards renewable energy.
Energy UK has called on Chancellor Rishi Sunak to provide additional support measures for consumers and the economy amid volatile energy prices.
Charities have called on the government to cut energy bills for the most vulnerable households, as they warn 8.5 million UK households face fuel poverty.
The cost of energy is extremely volatile currently due to Russia invading Ukraine, said Cornwall Insight.