As much as £500 million of energy debt is set to be paid off as millions of UK households face an additional £5 charge on their bills, the energy regulator has said.
This move aims to help suppliers recover significant sums accumulated during the ongoing energy crisis that have gone uncollected.
Ofgem, the industry watchdog, announced its intention to “reset and reform” the UK’s growing pile of energy debt. The regulator anticipates writing off up to £500 million of historic debt, a measure that could potentially assist around 195,000 individuals struggling with…