In collaboration with the government, 12 major UK energy suppliers will spend £500 million this winter to assist customers facing rising bills. The funds will be allocated in several ways, including directly crediting some customers' accounts, eliminating debts owed by others, and providing credit on prepayment meters.
Ministers are addressing the financial strains caused by cuts to winter fuel payments for 10 million pensioners, acknowledging that this decision would increase relative poverty, pushing an estimated 100,000 individuals into hardship by the decade's end.
A government representative stated: 'We recognise bills are too high and people are struggling.' This acknowledgment indicates the administration's intention to transition to clean energy by 2030, while simultaneously providing immediate relief for current financial challenges.
Consumer price inflation has risen to 2.3%, exceeding the Bank of England's target, leading to speculation that Ofgem will raise the quarterly price cap for energy, resulting in average household bills climbing by roughly 1% at the beginning of January.
Collection
[
|
...
]