Ofgem Chief Calls For Review Of Energy Price Cap

29th August 2023

Ofgem's Chief Executive Jonathan Brearley has emphasised the need for a reevaluation of pricing regulations due to the evolving energy market dynamics.

The energy regulator disclosed last Friday that the average energy bill will be around an estimated £1,923 per year, starting from 1st October.

However, concerns have surfaced following a report from the Resolution Foundation, revealing that rising standing charges could lead to higher bills for approximately seven million households during the upcoming winter months.

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Ofgem Announcement