PwC comments on the quarterly update to the energy price cap

Vicky Parker, Head of Power and Utilities at PwC UK, said:

"The energy price cap will rise by 5% in January, equating to an extra £94 over the course of the year for typical household electricity and gas costs. Geopolitical conflicts continue to have a material impact on commodity prices, as seen with the recent spike in gas prices spurred by the current conflict in the Middle East. The only sustainable, long-term solution to insulating against volatile and rising energy costs is to accelerate planning, bolster infrastructure and increase the amount of domestic and low-carbon sources into the overall energy mix."