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Millions of UK homes urged to be placed on October 2020 energy price cap

Academics from the University of Oxford have put forth a proposal for households struggling with fuel poverty.

They recommend that such households should consider switching to the tariff structure in place during October 2020, before subsequent price hikes occurred.

In October 2020, the energy cap for an average household stood at £1,042.

By adhering to these rates, which are now almost half of the current cap, households could potentially benefit from a substantial £1,000 reduction.

This suggestion contrasts with the existing Ofgem cap that currently governs energy prices for consumers.

The rationale behind this proposal lies in its potential to alleviate the financial burden faced by households grappling with fuel poverty.

By reverting to the 2020 price cap, these households could potentially experience a reduction in their energy expenses, providing much-needed relief, researchers say.

Dr Jason Palmer, from Cambridge Architectural Research who undertook the data analysis, said: “We were struck by the very painful choices many households in fuel poverty have to make every day.

“Around 6% of the 28,000 households whose energy use we examined have hardly any heating at all through the winter. They are juggling family finances and if they get it wrong then their health – in extreme cases their lives – are on the line.”

Energy Live News
Energy Live News
This article first appeared on Energy Live News, an award winning news service. Their mission is to give you balanced news, analysis, commentary of energy from their dedicated team of quality journalists and production staff.
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