In October 2022, when Ofgem's price cap level was forecast to rise to £4,279 in January 2023, the Energy Price Guarantee was introduced to protect customers from unprecedented energy bills. It was designed to act as a "safety" price cap operating at a level of £2,500 per year (...
Global instability continues to push prices up as reliance on gas imports means the British energy system is vulnerable to price shocks. And bills could be even higher from April. The energy price cap is to rise to an annual average of £1,928 from January, the sector's regu...
Ofgem states in the 30 December consultation that it has been "scoping the viability" of various proposals relating to "mitigating the financial impact on customers… of the likely sharp [energy price] increases in April 2022". These proposals presumably include third party financing...