Ministers were forced to defend one of the biggest energy bill increases in a decade yesterday after the regulator raised caps on prices for 15 million households by more than £100 a year. Ofgem blamed higher wholesale gas and electricity costs as it authorised suppliers to raise prices for 11 million households on standard tariffs by 10 per cent or £117 a year from April and for four million households with pre-payment meters by £106 a year. Critics said consumers who had been promised that the cap would end unfair price rises would be feeling “conned”, with most standard tariff customers likely to end up paying more than they were before the cap was brought in on government orders in January. Claire Perry, the energy minister, said that households would still be “better off” under the policy as big supplier s would have increased their prices even further had the cap not been in place.
Times 8th Feb 2019 read more »
The energy regulator has given suppliers the green light to raise bills for 11 million households by £117 after lifting its price cap for standard energy deals. The steeper than expected hike will take effect from April and drives the average dual fuel energy bill up to £1,254 a year, within a whisker of the highest ever annual average of £1,286 in 2013. For the 4 million homes using pre-payment meters Ofgem will raise prices by £106 a year to £1,242.
Telegraph 7th Feb 2019 read more »