UK energy price cap hike – a broken system that favours big polluters

26th August 2022, London – Ofgem’s announcement today that UK households will be forced to pay an average of £3,549 per year on energy bills demonstrates in the clearest terms that the fossil fuel dependent system we rely on is fundamentally broken.

Mike Davis, CEO at Global Witness, said:

“So soon after UK households woke up to the news that the likes of BP and Shell have enjoyed eyewatering record profits, today they begin a bank holiday weekend being told staying warm this winter will be completely unaffordable. This astronomical rise in the energy price cap will drive millions into poverty and likely cause deaths as people will simply be unable to heat their homes.”

“It is an absurd situation that lays out in the clearest of terms that this is a broken system that works only for big polluters and punishes everyone else. Fossil fuel dependency is now driving poverty, enriching the likes of Putin to murder Ukrainians, and causing a climate crisis that has brought humanity to the brink of disaster.”

“Politicians failing to grasp that this is the moment to urgently boost a transition to renewable energy, along with rolling out a programme of home insulation, are simply perpetuating the suffering of people whilst big polluters profit. As a terrifying winter looms for millions, this is no longer a question any of those in power can ignore.”