Comment: Ofgem increasing the price cap in April
Jess Ralston is available for further comment and interview.
By Jess Ralston
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Commenting on the news that the UK’s energy watchdog Ofgem has unveiled plans to lift the energy price cap in April next year in order to help suppliers recover nearly £3 billion in debts from customers who cannot pay their bills [1], Jess Ralston, analyst at the Energy and Climate Intelligence Unit (ECIU) said:
"Two years on, the gas crisis is still causing havoc for bill payers with Ofgem increasing the price cap to try and ensure that no more energy companies go bust because of debt accrued during sky-high gas prices.
"While we rely on gas for home heating and electricity generation, we're going to be subject to these volatile, international gas markets that we have no control over – let’s be clear North Sea gas is sold on those markets and so will not help. Insulating homes would shield households from this but the Government’s installation programmes have stalled, leaving many people colder and poorer this winter."