Given that the situation in the wholesale markets shows no signs of abating, both the government and Ofgem have a shared responsibility for helping to steward the energy sector through a period of profound challenges for suppliers as well as for their customers. Furthermore, the risk of structural damage to the UK economy as a whole due to record energy costs is evident, with the initial impacts already being seen in the latest inflation figures. With the prospect of a 50% increase in the Default Tariff Price Cap from 1 April next year, we set out our thoughts on some of the options open to them below:
