Government urged to do more as cost of living crisis deepens following latest energy price cap rise announcement
manchestereveningnews.co.ukThe boss of Ofgem has urged the next prime minister to do more to help the country deal with the impact of October's energy price cap rise.
It was revealed by the industry regulator on Friday (August 26) that the energy price cap will see average household bills soar by more than 80 per cent to £3,549 annually.
Around 24 million households in England, Scotland and Wales on default energy tariffs will be affected by the change. The price cap, which determines the maximum amount of money energy suppliers can charge consumers for energy, will come into full effect on October 1 and will remain in place until December 31 when Ofgem will adjust the amount once again.
Now many are warning that the change to the price cap will impact a vast number of households across the country. Read more: Energy price cap will rise to £3,549 in October, Ofgem announces Jonathan Brearley, Ofgem CEO, said the Government would need to add to the support it announced in May when bills were only expected to jump to £2,800. “The Government support package is delivering help right now, but it’s clear the new prime minister will need to act further to tackle the impact of the price rises that are coming in October and next year,” Mr Brearley said.
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