Energy bills could change every three months if new plans aimed at avoiding increase shocks are to go ahead. Ofgem, the energy regulator, are proposing to update the energy price cap quarterly rather than every six months.
They say a more frequent price cap would reflect the most up to date and accurate energy prices, and mean when prices fall from the current record highs, customers would see the benefit much sooner. But Uswitch, a price comparison site, has said this plan does little to solve the harsh increases coming to many householders this year.
Their comments come as the UK cost of living is expected to rise further, despite the energy price cap rising by 54% last month and inflation reaching a record level of seven per cent.
