Energy price hike: Are YOUR energy bills going up? Why are energy prices increasing?

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Energy price hike: Are YOUR energy bills going up? Why are energy prices increasing?

Demand for energy has recovered since the pandemic, which has subsequently prompted an uplift in prices to more normal levels.Ofgem made its decisi

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Demand for energy has recovered since the pandemic, which has subsequently prompted an uplift in prices to more normal levels.

Ofgem made its decision to allow suppliers to claim £23 back from the new default tariff price cap level to cover expected higher levels of customers being unable to pay their bills because of financial difficulties arising from the pandemic.

The regulator announced the move would ensure companies could continue to supply energy and protect their customers, especially those in vulnerable circumstances.

Mr Brearley added: “The government and Ofgem have been working with the energy industry and consumer groups to support customers through this difficult time and I urge anyone worried about paying their energy bills to contact their supplier and access the help available.”

Ofgem added suppliers are required to provide emergency credit to customers struggling to top-up prepayment meters.

The regulator reviews and changes the price cap once every six months.



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