Householders put at risk due to the energy bills price cap rise
Householders put at risk due to the energy bills price cap rise Aug 11, 2021
With Ofgem’s announcement of the energy bills price cap rise there could be a lot of families across the UK that could be seriously impacted.
These negative implications will also arrive when householders are most vulnerable, during winter and when jobs and incomes face uncertainties with the impact of the pandemic still looming.
Octobers rise comes at a cost of £139 for the 11m household on default tariffs paying direct debit, furthermore the cap could rise up to £153 for the 4m others using repayment meters.
The impact of which could hit every household budget and push up inflation whilst effecting those already struggling with their energy bills most of all.
The inevitable consequence is that more households will have to choose between feeding their families and heating their homes which is by no means fair.
However it is possible by switching tariffs or energy providers that you will be able to save yourself money before the price cap is introduced even though this may have unforeseen consequences down the road.
Therefore the Government should consider postponing the raising of the price cap or possibly completely discounting it for households with low income.
They could also extend the existing warmer homes grants which would give families across the UK the opportunity to be in a much better place in the upcoming months.