Sky's Ed Conway says attempts to put a cost on the hit ahead for 'average' households is almost impossible but he sets out how rising bills will be softened through the chancellor's spring statement measures.
In part this is because there is no such thing as an average household. In part it is because the range of measures implemented in the spring statement are designed to soften the blow for different income groups.To see what I mean, let's try to take a step back and think about what's happening here, starting with the"average household".
In fact, when Ofgem calculates the price cap it is putting a price limit not on a total bill - illustrative or otherwise - but on a unit of gas or electricity. So while some households might see an impact similar to the numbers they read about in headlines, in practice the dent in their incomes could be very different - and depends in large part on how much power and heat they need and use.
On top of this, the chancellor's council tax cut and energy bill rebates should reduce costs by the"average household" by a further £190. That is on top of bills which could, on the basis of what we know about the distribution of energy bills, could rise to an annual average of £3,000 this month.
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