Hard-pressed Britons face energy bill rises every THREE MONTHS: Fury as Ofgem reveals plan for quarterly price-cap changes rather than six months so ‘suppliers to better manage their risks’
Ofgem today confirmed the energy price cap will be updated quarterly, rather than every six months, as it warned that customers face a ‘very challenging winter ahead’.
The energy regulator said this switch to changes every three months means ‘prices charged to bill-payers are a better reflection of current gas and electricity costs’.
Ofgem added that this will also allow ‘energy suppliers to better manage their risks, making for a more secure market helping to keep costs down for everyone’.
The London-based regulator claimed that the change to when the energy price cap is updated ‘will go some way to provide the stability needed in the…
