Why is there an energy crisis?
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While gas and oil companies report billions worth of profits, vulnerable households are faced with rising costs and impossible choices. Find out why we’re facing an energy crisis, who’s to blame and what we can do about it.
Why are energy bills rising?
In February 2022, energy regulator Ofgem announced it’s raising the cap on the prices that energy companies are allowed to charge customers by 54%. That means millions of people across the UK will face steeper bills come April.
A price cap is a form of economic regulation that sets a limit on the prices that a utility provider can charge. For example, the price cap allows oil and gas companies to 'pass on all reasonable costs to customers, including increases in the cost of buying gas.'
There’s a lot of misinformation over what’s caused the hike in costs, but Ofgem itself states the increase in heating costs is because of a record rise in global gas prices.
Who’s to blame for the UK’s energy crisis?
Over the past decade, the UK govern...
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