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The energy price cap is expected to further rise in October, while Ofgem has announced plans to review the price cap every three months rather than six months in the future.
Chancellor Rishi Sunak recently announced a series of measures to support the poorest households and pensioners amid the crisis.
Rishi Sunak announcement: Full list of handouts for Britons and who is eligible
Asked to comment on the measures, the savings expert said: “Whilst these measures are encouraging and should bring some relief to households, for many of the ‘squeezed middle’, the increase in discount is still dwarfed by the jump that is coming to energy bills as forecasted by the regulator Ofgem.”
During a press briefing, Citigroup CEO warned that Europe could dive into a recession this winter, amid the energy crisis.
Jane Fraser said that, especially if this winter is a cold one, recession will leave people unable to cover the necessary cost of heating.
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