People in Nottingham have spoken out about how they are “fearful” ahead of OFGEM announcing the latest rise in the energy price cap later this week. People have admitted they are reliant on working two jobs to make ends meet in light of the cost of living crisis.
OFGEM is the Office for Gas and Electricity Markets. On Friday, August 26, they will be announcing how much more gas and electricity bills are set to go up. The energy price cap is expected to jump a further £1,582 from October to £3,553 a year. It would mark an increase of 80 percent.
Previously, Conservative MP Rishi Sunak announced as former Chancellor of the Exchequer that £450 will go to all UK households to help with the soaring price of gas and electricity this autumn. However, people in Sherwood think more should be done to help many people who “can just about cope.”
