Energy costs likely to rise under Ofgem's new price cap
Energy regulator Ofgem is to publish its latest price cap, with households expected to face another increase in gas and electricity costs in April. The cap, which puts a limit on the amount suppliers can charge for each unit of energy, affects the bills of 26 million homes in England, Wales and Scotland. Analysts have forecast a 5% increase in prices, owing to a rise in the wholesale costs paid by suppliers.
- As households face another surge in energy costs, it highlights the need for governments and regulators to prioritize affordable energy solutions that balance economic stability with social welfare.
- How will the rising energy bills impact vulnerable households and what targeted interventions can be implemented to support those struggling to pay their bills?