Energy price cap expected to rise to £2,800

Ofgem's chief executive Jonathon Brearley has said that the UK's energy price cap is expected to rise by £830 to £2,800 in October.

He said that gas prices are "higher and highly volatile" as conditions have worsened in the global market as a result of Russia's invasion of Ukraine.

The increase may be the first of many, after Ofgem announced a reform plan last week that could see adjustments in the price cap every three months.

#Energy #CostOfLiving #Ofgem

[mpersard]

How can people expect to pay these prices 😡😡😡

[stonelane]

Ofgem no longer seems to be on the side of the consumer but is now protecting the pockets of the energy suppliers.

[craigefcsmith]

All apart of the great reset. Making our lives as hard and difficult as possible so we can't afford to live and become dependent on the government.

[jamesknitworth]

But the MP's gave themselves a £2200 payrise because they were underpaid at £80k. Remember that !!!!

[Tiredmum]

It's the standing charge that causes a lot of this. It's insanity

[htspott]

I love how it's called a "Cap". It is NOT a Cap on your energy bill. It is a cap on the price per unit based on AVERAGE household consumption. So if the AVERAGE will be £2, 800 per year then surely 50% of people (the ones above the average) will be paying OVER £2, 800.

A cap implies an upper limit and there is no limit so this term is just disengenuous at best and lies at worst.

[yourmumcommunist]

How will anyone but the rich be able to afford this.

[johnrussell]

So what unaffordable price did they think it might rise to instead of the unaffordable price they set the cap to?

[gregmoore]

It's the highest since the 80s, but house prices and rents are much higher and so it is the worst time in the last 50 years to be middle class or below!

[obi-wankenobi]

I thought ofgem was there to protect the customers from these type of price hikes oh that's right it's the four large energy companies that pay their wages ! 😎👎 👎

[michaelpout]

How can they justify this how can people be expected to live

[Crouchy]

Imagine Corbyn had nationalise the energy sector so the money would be in our pockets and not private shareholders. Maybe that's why he was hounded out of the running 🤔

[HShango]

The UK is way too vulnerable to the global energy market.

[amfearliathmor]

My next door neighbour yesterday cut down a mature tree in their garden to ensure some seasoned fire wood for this forthcoming winter.

[MultiAndrew]

This is getting out of control the government needs to step in and do something.

[jaynelane]

SACK THE LOT OF THEM OFGEM THE GOVERNMENT END OF.

[amfearliathmor]

Glasgow COP26 and NetZero. Wait a minute no one told me I was expected to just die (XR wet dream) from Hypothermia and Famine being a Useless Eater and that I was to 'Own Nothing' as a Serf If I somehow survive.

[mazdamaniac]

Ofgem's primary duty is to protect the interests of consumers, _not the shareholders of energy companies._ They have completely failed to do this, so they are not fit for purpose.
After October, it won't be a case of choosing between heating & eating for millions more people, it'll be our neighbours struggling to keep food on their table as we all try to survive poverty.
This coming winter is going to be the most difficult in living memory for a big portion of the UK's public, unless this government gets off it's arse and actually does something about it!

[amfearliathmor]

CCGT Electricity grid generation today is around 48% (17.5 GW) of the demand of 36 GW
This can be reduced to zero within 24 hours after just two sabotage terrorist attacks at undefended industrial sites. I would also plan accordingly for some Off grid heating for a complete take down of the Electricity grid despite the 40% drop of in the demand load this winter (probably seeing a winter demand of less than 30 GW) due to cost induced self disconnection after October as the price cap increases to £2800.

[thetruth]

I think the price cap will increase again before the end of 2022, cost of living is only going to get much worse