Energy bills are to rise in April and again in October and the government has not ruled out further support for households.
The situation will be kept under “constant review” the Energy Minister Gregg Hands has confirmed.
Energy experts are predicting that in October there could be a 17% rise in household bills unless the gas prices rapidly fall globally.
The Energy Minister was asked on BBC Radio 4’s Today if there will more help announced before October, Hands said, “It is too early to say what the price cap will be.
“We keep these things under constant review. Of course we won’t hesitate to act if we need to to defend consumers.
“But of course we have to recognise the UK is not in any way exempt or immune from high global energy prices.”
The National Energy Action chief executive Adam Scorer told ITV’s Good Morning Britain that more government help will not be enough.
Scorer said. “It (the government) should’ve gone hard and deep, and then to provide the support to people who are going to be hit hardest by these price rises.
“£350 is going to be hugely welcome by everybody and it’s got lots of merit.
“But if you take the rise in October and the rise that’s coming in April, it will still see those on the lowest incomes facing a £500 price rise over the year.
“So, unfortunately, it was wholly inadequate. And they’ll have to come back to this.”
He added, “They have to look at direct financial support for people on the lowest incomes. This is annoying for everybody, it’s challenging for most, it is devastating for people on tight incomes, so what they need to do is to take it seriously as a cost-of-living crisis that will have tragic consequences.
“It (the government) has to go deep and it has to understand that this is a crisis that will last for some years.
“It loves its one-off contributions, its ad hoc arrangements, but that’s just not fit for purpose.”
Bank of England Governor Andrew Bailey told Radio 4 on Friday, “It is going to be a difficult period ahead, I readily admit, because we all get we are already seeing and we’re going to see a reduction in real income.
“Based on what we see today, I would expect that, so we’re going to start coming out of it in 2023, and two years from now we expect we’ll be back on to a more stable – certainly inflation – back to a more stable position.”
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