economy
Andy Burnham hints at fresh energy bill support as price cap rises to three-year high
Home Alone and Rocky Horror Picture Show star Tim Curry dies aged 80
TL;DR
- Prime Minister Andy Burnham hinted at potential further government assistance with energy bills.
- Ofgem's energy price cap will increase by 4% to £1,723 for a typical household starting in October, a three-year high.
- The price cap rise is attributed to high wholesale gas prices, influenced by the conflict in the Middle East.
- Cornwall Insight forecasts a further 9% jump in average annual bills from January.
- The government previously announced a VAT cut on electricity bills, effective from October.
- Consumer groups stated the VAT cut offers little relief against the overall rise in energy costs.
- The opposition criticized the government, claiming energy bills have increased significantly under their tenure.
- Experts suggest exploring fixed tariffs, smart meter usage, and different payment methods to reduce costs.
- There is a call for the government to invest more in domestic clean energy sources.