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Ofgem: Consumers still facing ‘one of the most difficult periods in history’

Posted at July 3, 2023 » By : » Categories : News » Comments Off on Ofgem: Consumers still facing ‘one of the most difficult periods in history’

Energy regulator Ofgem has reiterated that the current period remains one of the most challenging for energy consumers.

Despite some improvements, the energy market continues to pose significant difficulties for households across the UK.

An Ofgem spokesperson said: “This remains one of the most difficult and volatile periods in history for energy consumers. And while bills remain higher than before the energy crisis, it is great news that people will see them drop by £460 a year on average from 1st July with more fixed deals coming back onto the market too.

“As energy regulator, we have taken a range of steps to stabilise the market and protect vulnerable consumers. We will also continue to support energy customers by passing savings from drops in wholesale prices onto customers more quickly through the quarterly price cap. Anyone struggling to pay their bills should reach out to their supplier as soon as possible.”

Earlier today, Centrica’s CEO, Chris O’Shea, issued a warning stating that despite energy prices reverting to pre-invasion levels, they remain considerably above the long-term average.

Sam Richards, Founder and Campaign Director for Britain Remade, has responded to the comments made by the boss of Centrica regarding energy bills.

Richards expressed concern over the expectation that energy bills will remain high for an extended period, exacerbating the cost of living crisis faced by many.

Sam Richards said: “The only way we are going to bring down energy bills for millions of people is if we get spades in the ground and get building the clean secure domestic energy infrastructure Britain needs.

“To do this we need fundamental reform of our outdated planning system, which is holding Britain back from being a clean energy superpower. It currently takes up to 13 years to get an offshore wind farm up and running, despite construction only taking two to three years.

“And the senseless ban on new onshore wind farms in England should be dropped.”

Article source: https://www.energylivenews.com/2023/06/30/ofgem-consumers-still-facing-one-of-the-most-difficult-periods-in-history/

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