KPMG UK responds to Ofgem’s April Price Cap announcement

Responding to the announcement from Ofgem that the Energy Price Cap will rise for the third consecutive quarter to £1,849 from 1st April 2025, Simon Virley CB, Vice Chair and Head of Energy and Natural Resources at KPMG UK, said:

“A particularly cold Winter in Europe, and concerns about low gas storage levels, have put additional pressure on gas prices, meaning that for the third consecutive quarter households in the UK will see their bills going up again. That they are still below the unprecedented highs experienced three years ago will be of little comfort to those who continue to struggle with the cost of living.

“Over the long run, it makes sense to reduce our dependency on volatile fossil fuel markets by continuing the shift towards renewables. But that should not preclude action in the nearer term to provide additional support for those vulnerable households who need it most. This could take a number of forms, including social tariffs, or increased support for energy efficiency improvements. Getting the balance right between securing the investment we need to hit the Government’s 2030 Clean Power targets and keeping bills down is going to be a key balancing act over the next few years.”

-ENDS-

Notes to editors:

For further information please contact:

KPMG Media Relations
Claire Barratt
T: +44 (0)7923 439264
E: claire.barratt@kpmg.co.uk

KPMG UK media relations
Tel: +44 (0) 207 694 8773

About KPMG in the UK

KPMG LLP, a UK limited liability partnership, operates across the UK with approximately 17,000 partners and staff. The UK firm recorded a revenue of £2.99 billion in the year ended 30 September 2024.

KPMG is a global organisation of independent professional services firms providing Audit, Legal, Tax and Advisory services. It operates in 143 countries and territories with more than 275,000 partners and employees working in member firms around the world. Each KPMG firm is a legally distinct and separate entity and describes itself as such. KPMG International Limited is a private English company limited by guarantee. KPMG International Limited and its related entities do not provide services to clients.