Posted 12/15/2023, 8:47:00 AM
Ofgem plans £16 bill hike to recoup £3bn in supplier bad debts
- Ofgem proposes adding £16 to energy bills from April 2023 to March 2025 to help suppliers recover £3bn in bad debts
- Energy debt has hit record £3bn due to increases in wholesale prices and cost of living crisis
- One-off charge would protect market and avoid costs of more supplier failures, which previously cost £82 per customer
- Customers with prepayment meters excluded as they don't accrue same debt levels
- Campaigners criticize move as unfair given energy company profits and households struggling with bills