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Mr O’Connell discussed energy companies not wanting to be blamed for the crisis because they are the ones who send out bills to customers. He also touched upon British Gas giving 10 percent of their profits back to customers, which amounted to around £10million. Mr O’Connell predicted that UK households will have to spend 10 percent of their income on energy costs. The latest announcement from Ofgem of an 80% increase in energy bills, has caused panic for the most vulnerable in society as many cannot afford the energy hike. Demand for the Government to take action to help out households is high as the cost of living crisis worsens.
Mr O’Connell told Times Radio: “The proposals, particularly the one from Scottish Power, where energy bills will be frozen, really is just shifting it onto the Government’s chequebook.
“And I think energy companies are quite keen to get out of the way of this one.
“They don’t want to be the ones who are blamed, because they are the ones who send out the bills, of course.
“So any measure that would freeze bills but they don’t have to pay for it, it goes on to general taxation, of course, they would greatly favour.
“The British Gas thing where they gave 10 percent of profits back to customers, it only applies to… And it amounts to about £10million a year.
“As long as the… Continues, so it’s a bit of a drop in the ocean, but on the other hand, it is something.
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“And as Patrick outlined it is very difficult to see exactly what the new Prime Minister will do.
“There are lots of interesting ideas running around about much more targeted support for the worst off households.
“But, just consider that EDF quite rightly pointed out earlier this week, that about half of all UK households will be in fuel poverty, from January this year.
“That means spending more than 10% of their income on energy bills.”
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Experts have predicted that energy bills could rise to over £7,000 by next year.
Due to the energy price cap rising to £3,549 this October.
Many Britons are already experiencing the effects of the cost of living crisis, but many more are predicted to feel the pinch over the next few weeks as temperatures drop.
Some Britons have already turned to food banks for support, as they cannot afford the increased costs to living.
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Other energy experts have been uttering the same sentiment as Mr O’Connell.
An energy expert at Boiler Central, Myles Robinson said: “The news regarding the energy price cap along with these major profits is a huge blow to the country.
“Unless something substantial is done about unmanageable household bills, we will see many more families being pushed into fuel poverty this year. An energy package of support is needed now more than ever.
“Some energy suppliers offer hardship funds if you are living in fuel poverty. So, if you are struggling, it is worth checking if your supplier offers some type of support.”
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