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Energy price cap falls – but more support needed for struggling households

Debt charity responds to Ofgem’s price cap announcement

Posted May 25, 2023

The Money Advice Trust, the charity that runs National Debtline and Business Debtline, has today welcomed Ofgem’s decision to cap household energy prices at £2,074, but is calling for more support to help households dealing with energy arrears. 

Findings from a survey of callers to National Debtline show that a quarter are already behind on their energy bills, up from 21% in the same period last year. 

The Money Advice Trust has joined the Joseph Rowntree Foundation and more than 90 other charities in calling for an Essentials Guarantee to link the rate of Universal Credit to the cost of essential goods including food and energy costs.

And on energy specifically, the charity has joined calls for Ofgem and the energy industry to introduce a ‘social tariff’ to lower the cost of energy bills of low income households.

Joanna Elson CBE, chief executive at the Money Advice Trust, the charity that runs National Debtline and Business Debtline, said:

“Today’s price cap announcement offers some relief to households – but for many, the damage from unaffordable energy bills is already done.  Energy is still significantly more expensive than when this crisis started, and more support is going to be needed.

“We need permanent solutions to this problem – including a social tariff for low income households, and a wider Essentials Guarantee to ensure Universal Credit always covers essential costs.

“It’s also vital that people can access the advice they need.  I would urge anyone who is worried about their energy bills to seek free, independent debt advice from a service like National Debtline. Our expert advisers are there to help and talk you through your options.”

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