UK energy regulators said Friday that UK households would face a “significant rise” in energy prices as price caps are set to rise next spring.
Ofgem CEO Jonathan Brearley said the price caps set by regulators to control gas and electricity costs will be significantly raised in April.
“I can’t predict everything. As we’ve seen, the wholesale market is moving up and down so quickly that we can’t completely predict what it will be,” he said today on BBC Radio 4. Told the program.
“But looking at the cost of the system, we expect a significant increase in April.”
But Brearley said regulators have no plans to raise the price cap by April.
“This is a really worrying time for our customers,” he said. “We understand how difficult it is. The price cap is there to protect our customers from unfair profits, but we need to pass a legitimate cost.”
Brearley School warned that energy prices would rise significantly when the current cap was revised in April, so regulators said they would consider how to calculate the price cap.
Due to the “incredible change” in energy-based prices since August, regulators need to consider how to calculate price caps, he said.
Blairy denies that the collapse of 12 energy companies this year was a regulatory failure, with the root cause being “abnormal changes in gas prices” that have hit systems not only in the UK but around the world. I pointed out that there was.
“We need to sit down with the industry, look forward to it, and make sure we create a more resilient market that can handle such shocks in the future,” he said.
Britain’s National Grid said Thursday that Britain’s infrastructure could bring enough gas into the country to see it during the winter and the electricity supply must be safe.
The National Grid Gas Transmission states that the UK has a “positive supply margin.” This means that you have access to more gas than is used during peak demand.
The country said it has access to flexible gas supplies from abroad, such as liquefied natural gas (LNG) brought in by ship and gas pipes from Europe.
This is sufficient to meet all scenarios of peak demand predicted by National Grid experts to occur from October to the end of March.
PA contributed to this report.
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