We are about to see the biggest real-terms squeeze in living costs in a generation – and a major contributor to that is rising energy prices. The recent increase in the energy price cap will see average dual-fuel bills soaring 50 percent to almost £2,000 a year. Another significant hike in the autumn looks certain. And that’s before we factor in the impact of the unfolding crisis in Ukraine.
It’s a sign of the strange place we’re in that the price cap actually represents the best deal available to consumers right now – not something that was envisaged by those who designed it.
With energy prices front and centre in a cost of living crisis that’s set to get very real, I hosted a discussion recently with representatives from the energy sector and consumer groups, where we debated what could be done to help protect consumers – the first in a series of webinars on all things related to the energy transition.
Find out more on their website.