Ofgem announces new energy price cap

Reacting to the news that the average annual energy bill will now be capped at £2,074, Sana Yusuf, warm homes campaigner at Friends of the Earth, said:

“Make no mistake, this announcement will make little difference to the millions of people who struggled to stay warm in cold, damp homes this winter. Most government energy bills support has already ended, and people will still be paying double what they were before the energy crisis.

“With the rate of food price inflation now outstripping energy, things will only get tougher for the hardest hit communities that have already suffered so much in the last year. What’s more, analysts say that average energy prices will not fall below pre-pandemic levels until at least the end of the decade. Amid all this, energy firms are still posting record-breaking profits.

“The injustice is breath-taking. People shouldn’t have to wait ten years before they can afford to pay for life’s basics. The government must not waste another summer that could be spent rolling out a street-by-street insulation programme. Not only will this bring down bills quickly and help to protect people from the cold, it’s vital to cut the emissions our homes produce if we’re to meet our climate goals.”