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Calls for increased support with energy bills have intensified following a hike in gas and electricity prices that has affected millions of households across England, Wales, and Scotland. The latest price cap by regulator Ofgem has caused energy costs to rise by 2%, leading to concerns about the financial burden on consumers, especially as a record £4.4bn is owed to suppliers by customers. The government has acknowledged the challenges faced by vulnerable families and has pledged to take urgent action to provide assistance during the winter months.
Energy suppliers have put forward various support schemes, but there are calls for more targeted and enduring support to address the issue of fuel poverty effectively. The extension of the Warm Home Discount to benefit recipients, reducing winter bills by £150 for a significant number of households, is highlighted as a step in the right direction. Additionally, plans for a large-scale home improvement program aim to make homes more energy-efficient and affordable to run, further contributing to the reduction of household energy costs.
Households are now grappling with a 2% increase in energy prices, prompting individuals to explore fixed tariff options if they are on variable tariffs. Ofgem’s price cap dictates the maximum charge for gas and electricity units, with the recent hike translating to an annual cost of £1,755 for a typical household, representing a £35 rise. Consumers are encouraged to assess their specific financial impact by adding £2 for every £100 spent on energy annually, as the increase is attributed to additional support measures and operational expenses involved in balancing energy supply and demand.
Efforts are being made to identify households most in need of support, with suggestions to use income, health, and energy consumption data for a more targeted approach. Funding for assistance programs is proposed to come from taxation, with estimates suggesting that an annual expenditure of £1.5bn could significantly alleviate fuel poverty and save affected households an average of £400 per year. Ofgem’s data underscores the urgency of the situation, revealing that over a million households have no repayment arrangements with their energy suppliers, emphasizing the critical need for effective support mechanisms
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