Following yesterday’s Autumn Statement, where millions of people learnt that they will be paying more in income tax, Ofgem have announced that the energy price cap will rise further from 1 January 2024 by 5% to an annual average of £1,928; adding almost £100 to the average household bill.
As the oil and gas companies continue to profit out of the pockets of residents, this Government are bringing forward measures to extend the energy sector’s use of hydrocarbons, rather than transition to cheaper forms of energy, which are better for the environment and better for household budgets.
Rachael Maskell MP says:
“This Government have, again, failed to protect consumers from the oil and gas tycoons who continue to make massive profits rather than keep bills at a fair level and protect people from the cold. It is utterly shameful how these energy companies are behaving and it is time for a Labour Government who will act responsibly to protect families from ever increasing energy prices, insulate 19m homes over the next 10 years and will make a just transition to the renewable sector.
“I will continue to make the case against pre-payment meters, and ensure that customers do not end up paying more for their energy when protection measures run out in April 2024. If people are struggling with their energy bills, there are schemes available to help, so please contact me and I can assist.”