The regulator warned that if it did not take action, consumers could face even higher costs and poorer standards of service
Britain’s energy watchdog has issued a bill warning to all UK households as it considers hiking the price cap. Charities fear that a one-off increase to the energy price cap to help prevent suppliers from going bust as they face spiralling consumer debts would make bills “even more unaffordable”.
Tim Jarvis, director general for markets at Ofgem, said: “We know that households across the country are struggling with wider cost-of-living challenges, including energy, so any decision to add costs to the price cap is not one we take lightly. However, the scale of unrecoverable debt and the potential risk of suppliers leaving the market or going bust, which passes on even greater costs to households, means we must look at all the regulatory options available to us.
But Citizens Advice chief executive Dame Clare Moriarty said any increase in the price cap would make bills even more unaffordable. She said: “Even before winter hits we’re helping more people who can’t keep up with their energy bills than ever before. Worryingly, more households are running up energy debts during the warmer months, with some having to borrow money to try and keep the lights on.
“While industry and regulator-led support is welcome, Government must put in place additional targeted support and establish a Help to Repay scheme and an enduring social tariff.”
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