Ofgem welcomes PM’s measures to combat price cap

The government regulator is pleased Liz Truss has acted “urgently” to address concerns

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Prime Minister Liz Truss announced measures today that will see energy bills frozen at £2,500 to fight the energy and cost of living crises.

Worries of fuel poverty and the difficulty of paying for energy bills surfaced following Ofgem’s announcement that the price cap would rise to £3,459 from 1st October.

The government regulator has responded to the PM’s measures today, with a spokesperson stating: “Ofgem welcomes this significant and unprecedented support for energy consumers across the country.

“It’s been clear to Ofgem and the government since we announced the new price cap that the new government would have to act urgently and decisively to support consumers and this package of support will be welcomed by millions across Britain.

“Given the scale of the crisis and the challenges that lie ahead, it is the right time to assess the approach that has been taken. Therefore, we welcome the reviews on regulatory structures and how we get to net zero by 2050. We look forward to working with government on both.”