Uswitch comments on Ofgem suggestions of £2,800 price cap
Justina Miltienyte, head of policy at Uswitch.com, comments: “This admission from Ofgem confirms the worst fears of everyone who is currently struggling to pay their energy bill. Although we have long expected the price cap will rise again in October, this is the first time the regulator has estimated how high it could soar.
“The final figure is still uncertain as we have a few months left before the announcement, so it could go further up or down, depending on the market volatility.
“This revelation by Ofgem will be especially worrying for those on the lowest incomes who are already struggling, and the need for more support could not be more urgent.
“Nearly a quarter of consumers are already in debt to their supplier[1], and are facing financial pressures from all sides. Now is the time for the government to act and put together a comprehensive package of help for the most vulnerable before it is too late.”
ENDS
Notes to editors
FOR MORE INFORMATION
Prisca Simango
Phone: 07971 093 512
Email: prisca.simango@rvu.co.uk
Twitter: @UswitchPR
About Uswitch
Uswitch is one of the UK’s top comparison websites for home services switching, including broadband, mobiles, SIM Only and insurance. We’ve saved consumers over £2.5 billion off their bills since we launched in September 2000.
In 2022, Uswitch launched its free mobile app, Utrack, to help consumers manage their home energy costs. By connecting to their smart meter, users can track their energy usage hourly, get dynamic insights and calculate potential savings with handy tips.
Uswitch is part of RVU, a global group of online brands with a mission to empower consumers to make more confident home services, insurance and financial decisions.