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Energy Price Cap Rise Adds More Pain to Cost of Living Crisis
Today, Ofgem announced that the energy price cap will rise by 4% from October, increasing typical household energy bills yet again.
This will be worrying news for many people across Newbury and West Berkshire who are already feeling the strain from the cost of living crisis. Whether it's the weekly food shop, housing costs, fuel, or energy bills, families are facing pressure from rising costs in every direction.
This latest rise is being driven by higher wholesale gas prices linked to instability in the Middle East, but it is local families and households that are left paying the price. This is another reminder of how exposed the UK remains to international gas markets and events far beyond our shores.
Rural communities may feel the impact the most. Many homes across West Berkshire are older, harder to heat, and more expensive to keep warm during the winter months. Some households are also off the gas grid, often facing even higher energy costs.
That isn't sustainable.
We need to stop lurching from one energy price shock to the next. That's why the Liberal Democrats have long argued for better insulated homes, support for low-income households to improve energy efficiency, and greater investment in clean, home-grown energy. The more energy we generate here in the UK, the less vulnerable we will be to fluctuating international gas prices.
I would encourage those who are concerned about these rising costs to check whether they could save money on a fixed tariff and to contact their supplier directly if they're struggling to pay. Support is available should you need it.
I'll continue pressing for long-term changes that are needed to bring our bills down and improve energy security for everyone.
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