The Latest Breaking News from Ofgem

Ofgem is expected to announce on Monday it will drop its cap on the amount energy suppliers are able to charge by around £1,000

Customers will pay about 20% more on their bills – approximately £500

Union warns that industrial action could hit power supply - although the company denies this risk

Regulator says suppliers should start removing meters and compensating families who have had one fitted against their will

Ministers to recruit new directors after regulator’s attempts to improve competition in energy market was hit by supplier failures

Wholesale gas prices – the price paid by the company that then sells it on to you – are at last starting to fall to levels below where they were before Russia invaded Ukraine in February 2022, though not back to levels before the global economy restarted after COVID lockdowns.

Renewable energy generator said underlying group profits were helped by windy conditions last year

It comes after British Gas came under fire following an investigation from The Times that claimed the energy giant used debt collectors to break into the homes of vulnerable customers

Ofgem chief executive Jonathan Brearley announced a ‘comprehensive, independent, wide ranging review into what has happened’

Ofgem says energy companies must compensate customers now rather than wait until its review is complete

Household energy bills are set to soar despite £1,000 drop in Ofgem price cap.