MPs have called on Ofgem to tap network companies’ £4 billion windfall to fund a major new energy debt relief scheme, as record levels of household energy debt push millions further into hardship.
The recommendation is part of the energy security and net zero select committee’s Cost of Energy report, published today, which warns that “there is no shortage of money in the wider energy system” even as households face soaring bills.
The report found that consumer energy debt has reached over £4bn, more than triple from five years ago, and that standing charges amount to a “regressive tax on energy access.”
It also criticised the “toothless” energy ombudsman, calling for it to be placed on a statutory footing, and…