"We've worked through with MPs and others a response for people who are not protected by the energy price cap. In terms of plans for gas and electricity bills, the chancellor said ahead of the next price cap in July, the government is working through different scenarios and will look at more targeted options."
"About 1.7 million households in England and Wales rely on kerosene for heating and hot water but, unlike gas and electricity, prices are not capped and are subject to volatility. The increase in global oil prices has caused a spike in heating oil costs, commonly used in rural areas not connected to the main gas grid."
"Household energy bills are set to fall by 7% in April, Ofgem previously announced, following a shake-up in charges by the government. However, prices are still about a third higher than before the war in Ukraine, and billpayers in debt have ballooned."
Chancellor Rachel Reeves is preparing a support package to assist households struggling with elevated heating oil costs, driven by global market impacts from the US-Israel conflict in Iran. Approximately 1.7 million households in England and Wales depend on kerosene for heating and hot water, but unlike gas and electricity, these prices remain unregulated by Ofgem and are subject to market volatility. The Treasury is exploring various targeted options to help vulnerable households. While household energy bills are set to fall 7% in April, prices remain significantly higher than pre-Ukraine war levels. The government is also examining different scenarios for managing potential dramatic increases in gas and electricity bills from July when Ofgem's price cap lifts, as wholesale gas prices continue rising amid Middle East tensions.
Read at www.bbc.com
Unable to calculate read time
Collection
[
|
...
]