According to new data released by the UK Government, nearly £40 billion has been spent mitigating the impact of rising energy bills on households and business throughout winter.
The Office of National Statistics (ONS) has showcased the impact of the energy bills support measures on public sector borrowing with the October 2022 figure standing at £13.5 billion.
From the beginning of the wholesale gas crisis to the end of the newly extended Energy Price Guarantee initiative, gas will have added £4,400 to the average household’s energy bill, according to the Energy and Climate Intelligence Unit (ECIU).
Ofgem has made a statement calling on energy suppliers to ensure non-domestic customers are being supported and not taken advantage of amid the energy crisis.
The UK Government’s Energy Price Guarantee has launched in Northern Ireland this month reducing bills by up to 20p/kWh for electricity and 4.8p/kWh for gas.
Energy UK has urged the UK Government to accelerate efforts to increase energy efficiency of homes in the next Budget with this regarded as crucial to reducing energy bills.
New research by OVO Energy has found 83% of households would be willing to reduce their energy consumption between 4pm and 7pm to receive cash back, underpinning the launch of its “Power Move” flexibility trial.
