Despite Ofgem's minor reduction in the energy price cap, Brits will face high winter energy bills, and critics argue for more support and renewable energy efforts.
Ofgem reduces the energy price cap from £2,074 to £1,923, yet it remains significantly higher than pre-crisis rates.
However, this is well above pre-crisis conventions of £1,000-£1,200 per year before rebounding post-pandemic demand saw the collapse of 30 suppliers andJonathan Brearley, Ofgem chief executive, welcomed the latest fall in price cap but recognised people are still struggling with the wider cost of living challenges.
These packages constrained bills to £2,500 per year for average use for customers, while also shielding businesses from the brunt of high wholesale costs. Ed Miliband, Labour’s shadow energy and net zero secretary, criticised the government for failing to ramp up renewable energy generation to ease demand concerns.The MP said: “They continue to side with the oil and gas companies making record profits over hardworking British families, with their refusal to fix the gaping loopholes in the windfall tax or make the sprint we need for clean power, keeping the onshore wind ban and failing to insulate homes.
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