More financial pain for households with energy bills set to rise - The Yorkshire Post says

The energy crisis is not going to disappear overnight, that much is clear from the fact that the average household bill will rise by £94 a year from January after regulator Ofgem increased its price cap in response to rising wholesale prices.

This is driven by rising costs in the international wholesale energy market due to market instability and global events.

While the Chancellor struck a more optimistic tone during his Autumn Statement on Wednesday, many ordinary people face a much darker and colder reality.

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Prices for them will be going up during the coldest part of the year and with real household disposable incomes set to fall by 3.1 per cent from December 2019 to January 2025, there is little head room for many families to absorb costs.

A file photo of a handheld smart meter on a kitchen hob showing the cost of a year-to-date's worth of home energy usage in a home. PIC: Yui Mok/PA WireA file photo of a handheld smart meter on a kitchen hob showing the cost of a year-to-date's worth of home energy usage in a home. PIC: Yui Mok/PA Wire
A file photo of a handheld smart meter on a kitchen hob showing the cost of a year-to-date's worth of home energy usage in a home. PIC: Yui Mok/PA Wire

Very few would argue that blanket energy support, seen last year, should be rolled out again. That simply isn’t feasible.

However, when food banks are so prevalent, in many places being busier places than ever, and the spectre of warm banks looms across towns, cities and villages, there is clearly a need for targeted intervention. It also highlights the absurdity around policies such as the Winter Fuel Allowance. There are many that need it, but there are also those who don’t require the allowance and would readily give it up. M oney could be spent elsewhere if it was targeted better.

The raising of the energy price cap also drives home the importance of restoring calm and peace in the Middle East. Further escalation would only destabilise energy markets further.