Responding to the announcement from Ofgem that the Energy Price Cap will rise by 0.2 per cent to £1,758 from 1st January 2026, Simon Virley CB, Vice Chair and Head of Energy and Natural Resources at KPMG UK, said:
“The slight increase in the Ofgem price cap from January despite falling wholesale prices, is not good news for households struggling with the cost of energy, as average bills remain significantly higher than four years ago.
“Beyond January, without any Government intervention, the price cap is widely expected to rise again in April due to increasing network charges, and new subsidy costs – not just for renewables, but also Sizewell C. The pressure remains on the Government to show how its Clean Power Plan is reducing bills; the spotlight is now firmly on next week’s Budget and what measures could be announced to bring down energy bills.”
-ENDS-
Notes to editors:
For further information please contact:
KPMG Media Relations
Claire Barratt
Tel: +44 (0)7923 439264
Email: claire.barratt@kpmg.co.uk
KPMG UK media relations
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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.