Higher energy bills from April to push ‘millions more into fuel poverty’

While it is feared that the price cap will rise, research from energy trade bodies the Energy and Utilities Alliance (EUA) found that most people are generally in favour of keeping a price cap, which prevents the markets from setting a price.

Out of 2000 Britons surveyed by the EUA, 78 percent said they wanted the price cap to remain in place, while only 13 percent believed that the market should determine the price of people’s bills. 

Mike Foster, the CEO of the EUA, said: “Energy bills are really hurting consumers now and they fear what might be around the corner, especially now that the cold weather has arrived. The British public clearly like the support the Energy Price Cap is giving them; they want it to continue. Frankly, they can’t afford for it to be taken away. The energy producers, who are raking in the cash as a consequence of Putin’s aggression, are seen as part of the problem.”

However, not all experts agree that a price cap is necessarily the best means for shielding households from skyrocketing energy costs. Money Saving Expert Martin Lewis wrote on Twitter:”The reason it is so important not to communicate that there is a £2,500 cap is it risks some people, possibly vulnerable elderly people, thinking they can keep the heat on max all winter, and they won’t pay more than a certain amount.

“There is no £2,500 cap on energy bills. Instead the new October 1 guarantee, like the old caps, limits – Daily charge (28p gas, 46p electricity) – and Unit rates (10p/kWh gas, 34p/kWh electricity). So use more, pay more. £2,500 is just what someone with average usage pays.”

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Article source: https://www.express.co.uk/news/science/1697827/energy-bills-budget-jeremy-hunt-fuel-poverty-cost-of-living-crisis