Up to half a billion pounds of household energy bill debt is set to be written off as part of a new relief scheme, the energy regulator has announced.
Ofgem, the energy watchdog, plans to “reset and reform” the UK’s escalating energy debt, a burden currently adding pressure to all household bills.
Under the existing price cap, an annual charge of £52 is levied on household energy bills as a debt allowance, designed to cover unpaid energy debts that are ultimately written off.
The regulator anticipates writing off up to £500 million in historic debt, accumulated during…