Ofgem: Energy price hike will be difficult for households
The average household energy bill is to increase by £149 from October after Ofgem said it was increasing its price cap as homes approach the winter months. Jonathan Brearley, chief executive of Ofgem, said rising prices in the international energy market, due to heightened political tensions and extreme weather events, were the main driver behind the decision. Report by Covellm. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
Category
🗞
NewsTranscript
00:00I talk to customers on a very regular basis and I know today's news is going to be really
00:04difficult news for many households, many of whom are still struggling to put food on the
00:08table and to heat their homes. Now, as I always say, it's a forward who predicts the gas price,
00:13so we can't say what's going to happen in the long term, but the best assumption is we're with
00:17this situation for some time to come. When you look at the underlying reasons as to why we're
00:21seeing these pricing changes, it's all around the international gas market and I'm afraid the
00:26British government, the British regulator don't control that. So what's the way out of this? It
00:30is to support fully this government's ambition to get to 2030, to get to a net zero electricity
00:36system and therefore not only is that good for the climate, that will make sure our costs are
00:41more stable and we're no longer on the gas merry-go-round.