Ofgem Targets Soaring Energy Debts with New Relief Plan

Britain's energy regulator, Ofgem, has announced plans to manage £4.4 billion of customer energy debts, which are inflating household bills. A debt relief scheme entailing a £500 million write-off is underway, potentially aiding 195,000 customers. The move aims to balance consumer protection and reduce energy costs amid soaring bills.

Britain's energy regulator, Ofgem, has unveiled a strategic plan to tackle the alarming £4.4 billion in unpaid energy debts that are pushing millions of household bills to unsustainable levels.

As unrecovered debts add an extra £52 to current bills, Ofgem is preparing to roll out a £500 million debt relief scheme to alleviate the financial burden for approximately 195,000 consumers, though details on funding remain undisclosed.

Energy prices, still 50% higher than pre-Ukraine invasion levels, challenge both customers and the government, which is striving to lower costs while consumer advocacy groups call for expanded assistance to manage steep utility bills.

(With inputs from agencies.)