Ofgem’s price cap announcement

Commenting on Ofgem’s price cap announcement, Friends of the Earth campaigner, Sana Yusuf, said:

“Yet another increase in energy prices shows just how vulnerable we remain to the volatility of global gas pricing. We need a decent plan for upgrading our heat-leaking homes, which are largely the reason energy bills remain high and why too many people are freezing in cold, damp conditions again as we move into the colder months.

“It’s good to see the government will lean more heavily on profiting energy suppliers to support struggling customers through the next period, but if we’re to end the cycle of difficult winters for millions then we need more than short term measures.

“The rise in inflation this week, driven primarily by climbing energy prices, shows why upgrading our homes goes beyond lifting people out hardship and protecting the planet – it makes economic sense too, as it will leave people with more of their hard-earned cash to spend. That’s why in its forthcoming Warm Homes Plan, the government must go much further and faster, by committing to spend £6bn a year on a national insulation programme, targeted in the areas most in need first. It’s only with this level of investment that we can end the scourge of cold homes for good.”

ENDS

Notes

1. Ofgem’s energy price cap will increase by 1.2% from £1,717 to £1,738 from January 1 for a typical household in England, Scotland and Wales, the regulator has announced.