Ofgem has launched a call for input to address the pressing concerns surrounding affordability and debt within the energy market.
The move comes amid growing apprehension about the ability of struggling households to withstand potential future price shocks.
The discussion is open for contributions until 13th May.
Tim Jarvis, Ofgem’s Director General for Markets, said: “Prices are slowly falling as the energy market stabilises – but many people have been struggling to pay their energy bills amid unprecedented levels of debt and the legacy of this risks becoming an enduring problem.
“There have been numerous interventions to support different groups of customers, but a longer term solution requires us to take a step back and see the big picture which is why are launching this call for input on affordability. We need to look at energy affordability as a whole – what’s working, what is not and where are the gaps.
“We have taken action already – changing standing charges for PPM customers so they are not charged more than anyone else and toughening up requirements on suppliers to take care of their customers.
“However, the growing level of debt means a longer term approach is needed to ensure we have a stronger market and the right support for struggling consumers to protect them from future price shocks and ensure all consumers benefit from the transition to a new cleaner, more secure energy system.”
