However, Citizens Advice chief executive Dame Clare Moriarty said the service was helping people every day who “simply can’t afford this latest price hike” as its latest research showed the number of people living in debt to their energy supplier had reached a new high of nearly seven million.
Ofgem chief executive Jonathan Brearley said: “We know that no price rise is ever welcome, and that the cost of energy remains a huge challenge for many households.
Ofgem said four million customers have moved to a fixed tariff since its last price cap announcement in November, taking the total to 11 million, meaning they will not be affected by the increase.
Our recent analysis found energy network companies made billions in excess profits while households have faced soaring bills and it’s only right this money be used to help fund better targeted bill support and much-needed debt relief.”.
The energy bills of millions of households are to rise by 6.4% from April 1 when Ofgem increases its price cap for a third consecutive quarter.
