Ofgem – Energy price cap to soar to around £2,800 this winter

The CEO of Ofgem has warned the public that the energy price cap will surge to around £2,800 this October.

Jonathan Brearley told the business committee today that “conditions have worsened”, with Ofgem’s boss confirming he will be writing to the chancellor Rishi Sunak later today to advise him about the extimated £800 jump in bills this winter.

Brearley said: “it is clear to me and it is clear to the current Ofgem board, looking over all of our institutions history that had financial controls been in place sooner, we’d have likely seen fewer suppliers exit the market.

“For that, on behalf of Ofgem and its board, I would like to apologise.”