'Disgusted' caller blasts 'idiotic' Govt for inaction over 'obscene' energy price hike

4 August 2022, 17:04

By Fiona Jones

This furious caller denigrated the "stupid bunch of idiots" in Westminster for their inaction over "obscene" energy price hikes.

It comes as Brits, who are already tackling soaring energy bills, will face price hikes four times a year - up from just twice.

The energy watchdog Ofgem, which updates the price cap, said it will now be updated quarterly instead of every six months.

It claimed the change will help with stability in the energy market and reduce the risk of more suppliers going bust, which would lead to higher costs for customers.

Caller Jim, while being comfortable enough to pay rising bills himself, branded Ofgem "immoral": "The way in which they set the price is based on the current [market] price for the fuel concerned, whereas in reality all the large companies hedged their bets by buying...[it] years ago.

"The price they paid was much lower which is why they're making a fortune."

Read more: Britain is heading for long recession, Bank of England warns as it imposes biggest interest rate rise in 27 years

He accused them of profiteering: "They're declaring record profits at the same time as every citizen in this country is being made a porter by having to pay their fuel bills.

"I'd like the Government in that case to tell Ofgem to use the correct price and the average of the prices the large companies have paid for their fuel and not the current price."

Jim maintained that the high expense for fuel now would be "spread out" and easier to pay over time, even if large companies lowered their prices for now.

Jim continued: "What we wouldn't have is a situation where the big companies are making obscene profits while people are trying to choose between turning the gas on and eating. That's disgusting!"

Shelagh asked what's stopping the Government from intervening, to which the caller replied: "I think you'll have to ask the electorate that voted in this stupid bunch of idiots."

The energy watchdog Ofgem, which updates the price cap, said it will now be updated quarterly instead of every six months.

The watchdog’s chief executive Jonathan Brearley said: "I know this situation is deeply worrying for many people.

"As a result of Russia's actions, the volatility in the energy markets we experienced last winter has lasted much longer, with much higher prices than ever before. And that means the cost of supplying electricity and gas to homes has increased considerably."

The watchdog’s chief executive Jonathan Brearley said: "I know this situation is deeply worrying for many people.

"As a result of Russia's actions, the volatility in the energy markets we experienced last winter has lasted much longer, with much higher prices than ever before. And that means the cost of supplying electricity and gas to homes has increased considerably.

"The trade-offs we need to make on behalf of consumers are extremely difficult and there are simply no easy answers right now.

"Today's changes ensure the price cap does its job, making sure customers are only paying the real cost of their energy, but also, that it can adapt to the current volatile market.

"We will keep working closely with the Government, consumer groups and with energy companies on what further support can be provided to help with these higher prices."

It follows warnings that the cap on bills could rise to £3,850 between January and April next year.

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