The government price cap guarantee that protected households from energy price rises will end in April 2023. It was originally meant to protect households from energy rise for two years, but the government reduced this, so it will end in April 2023.
Energy price rise in 2023
Energy prices are set to rise again as Ofgem puts in a new energy price cap in 2023. The price cap is set to rise well over £4 000. This is an extraordinary amount of money for people to be paying for energy.
With the energy price cap set by Ofsted to rise well over £4 000, it’s going to be more energy poverty for people who will not be able to pay for heating and essentials like cooking.
The government did good by previously introducing the energy price guarantee scheme. They need to do the same again so millions of households do not suffer with energy poverty.
They should also put on a windfall tax on energy companies and give the money back to the consumers.