Energy Secretary Urges Government to Extend Price Guarantee as Bills Set to Soar
Energy Secretary Robert Habeck has written an open letter urging the government to extend the energy price guarantee to shield households from escalating energy costs. The call comes as the Energy Bills Support Scheme, offering £400 off bills, is set to expire in March, and the government's Energy Price Guarantee (EPG) is due to end in April, leading to a significant increase.
Citizens Advice warns that the end of the EPG will double the number of people struggling to afford their energy bills. Energy regulator Ofgem has confirmed that bills will rise in April, with the price cap set to decrease by around £1000 to £3,280 annually, yet bills will still be approximately £500 higher than the current level. Shadow Climate and Net Zero Secretary Ed Miliband has pressed the government to take further action against energy firms making record profits to lower bills. Money Saving Expert founder Martin Lewis has echoed this call, advocating for the retention of the current EPG to protect households from soaring energy costs. Several charities have joined the chorus, advocating for the maintenance of the lower EPG to combat inflation and assist consumers. Despite the challenges, Ofgem chief executive Jonathan Brearley has suggested that there may be light at the end of the tunnel, with the possibility of lower energy bills in the summer.
As the energy crisis continues, calls mount for the government to extend the energy price guarantee to protect households from escalating energy bills. With the Energy Bills Support Scheme and the EPG set to expire, and energy bills predicted to rise, consumers face a challenging period. However, there is hope that the crisis may ease in the summer, with the potential for lower energy bills.
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