Industry body EnergyUK has urged the Government to consider setting up a new dedicated Department of Energy and an expert panel to look at ways of keeping bills affordable for businesses and households.
In a letter to the Chancellor of the Exchequer, the organisation has set out a series of proposals for reducing costs.
EnergyUK said high prices are “set to persist throughout 2023, with further big increases predicted for January and April,”
It said Government-backed loans could be used to keep bills down throughout 2023 by covering the increased cost of wholesale energy for suppliers and allowing these to be spread over a much longer period of 10-15 years instead.
Dhara Vyas, Energy UK’s Director of Advocacy, called for “solutions that match the scale of the problem”.
“The consequences of leaving customers to face bills that would have been unimaginable even a few months ago demands that we do whatever it takes to help them.”