Brearley: Price cap on track to rise to £2,800 in October

Ofgem boss Jonathan Brearley has told MPs the regulator expects the price cap to increase by more than £800 this October as the war in Ukraine continues to exacerbate the energy crisis. Appearing before the Business, Energy and Industrial Strategy Committee on Tuesday (24 May), both Brearley and former Ofgem chief executive Dermot Nolan apologised for not intervening in the retail market sooner to prevent widespread supplier failures.

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