Speaking at the Energy UK conference yesterday, Ofgem CEO Jonathan Brearley said that customers will face “an extremely difficult time” as rising costs “are ultimately passed through to bills”.
He also warned that the price cap is likely to increase, saying that “it is designed to reflect fair costs and therefore will need to adjust over time to reflect the changes in fuel prices”.
European natural gas prices shot to record highs this week following fears of supply shortages over the winter. Speaking at what he said was an “unprecedented” time for the energy market, Mr Brearley said that more company failures were to be expected.
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Xi And Ishiba Express Desire For 'Constructive' Relations
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