So Energy is calling on the government to immediately increase the support available for customers to help the nation pay for a “once in a generation energy bill”.
Amid worsening wholesale energy prices, the financial position of the UK domestic electricity and gas supplier sector is worsening with 60% of remaining smaller energy suppliers “technically insolvent”, says accountancy firm Price Bailey.
Cornwall Insight has released its final predictions for October’s Default Tariff Cap showing that a typical household will be paying £3,554 equivalent per year for their energy bills.
The National Health Service (NHS) has made an ‘unprecedented move’ calling on the government to review the energy price cap increase in order to avoid a public health emergency.
Triton Power has raised an urgent modification in order to cap the cost of trade at British interconnectors at the value of lost load (VoLL), which would total £6,000 per MWh.
The Good Law Project has threatened Ofgem with court action should it fail to comply with its legal duties to protect vulnerable customers amid plans to raise the energy price cap.
The price cap could pass £4,200 come January following a number of changes made by the regulator Ofgem, according to analysis from Investec’s Martin Young.
Wind farms paying back through the Contracts for Difference (CfD) scheme due to high power prices could now pay back £25 to each household from this October.
