Household energy bills set to rise which will be 'a challenge for too many households'

Ofgem's increase in the energy price cap from January 2025 highlights the ongoing challenges in managing household energy costs amid volatile international markets and insufficient support for vulnerable groups.

Tim Jarvis of Ofgem acknowledged that while the price cap has been relatively stable, the energy cost remains a challenge for many households, urging consumers to explore options for better tariffs.

Caroline Abrahams from Age UK expressed concern that the rising energy price cap will add to the burdens of older individuals on low incomes, particularly those not receiving Pension Credit.

The fluctuating costs of energy, driven by international markets and regional conflicts, emphasize the urgent need for a transition to a more stable and renewable energy infrastructure.

Read at London Business News | Londonlovesbusiness.com