Liverpool's MPs have universally condemned the Government's decision to raise the energy price cap again, which they say will have a 'catastrophic' impact on the most vulnerable Brits.
The new price cap, announced by Ofgem, means millions of households across the country will face an 80% increase in energy costs, taking the average yearly bill to £3,549. The average household bill for energy in the UK increased by approximately £693 - £1,277 to £1,971 - in April this year, with bosses warning further price hikes were to come.
The increase was blamed on a record rise in global gas prices, with wholesale prices quadrupling since 2021. It is predicted the price cap could be raised yet again in 2023, bringing the average annual household bill to more than £6,000.
