OFGEM yesterday announced an increase in the energy price cap to £1,928, raising the average bill by £94 for dual fuel housolds who pay by direct debit. The prices are expected to fall when the cap next changes on 1 April.
The Trades Union Congress (TUC) says the UK is “feeding foreign firms’ profits” while British households struggle. The TUC General Secretary Paul Nowak said: “No one should struggle to get by in one of the richest countries in the world. But 13 years of wage stagnation and cuts to social security have left millions badly exposed to sky-high bills this winter.
“Energy bills are already 50 per cent higher than two years ago, so today’s rise will just hammer households even harder in the coming year. It doesn’t have to be this way. Other governments are investing in publicly owned clean power and insulating homes.” The UK is feeding foreign firms’ profits and subsidising cheaper bills abroad, while British households struggle to heat their homes and pay their bills.”
Jonathan Brearley, the Chief Executive of OFGEM, has acknowledged that many people are “having a difficult time and that “any increase in bills will be worrying.” Citizens Advice has urged the government to bring in additional targeted support for struggling households.
* Source: TUC