UK Energy Regulator To Reassess Price Caps As Debt Mounts

Households will be on the hook for Ofgem’s plans to stabilise the energy sector, with the regulator considering a rise in energy bills to reduce the risk of suppliers going bust. Ofgem is concerned over rising bad debt across the industry, which climbed to a whopping £2.6bn this summer – its highest ever level – due to a rise in wholesale energy prices and a cost of living squeeze on consumers. It is now considering whether to add a one-off levy to the price cap to reduce the risk firms from unrecoverable debt, at a cost…