The energy regulator, Ofgem, has unveiled a new relief scheme poised to write off as much as £500 million in household energy bill debt.
The watchdog stated its intention to “reset and reform” the nation’s escalating energy debt, a burden that has contributed to increased pressure on domestic finances.
Under the existing price cap, an allowance of £52 is presently incorporated into annual household energy bills, designed to cover unpaid energy debts that ultimately require writing off.
This initiative is expected to address up to £500 million of historic debt…