Stephen has said that it will be “good news” that average energy bills will likely fall from April this year.
Earlier today, the energy regulator, Ofgem, has confirmed that the energy price cap will decrease by 7% from April. This change is expected to reduce the annual bill of a typical household by around £117.
From April, the reduced price cap will reflect changes in wholesale energy costs and other industry-wide adjustments. A number of support measures also remain in place, including the Warm Home Discount, which this winter has provided £150 off bills for many eligible households.
Alongside the price cap reduction, there are ongoing efforts across the energy sector to improve consumer protections. These include work to review standing charges, ensure fair processes around prepayment meters, strengthen compensation arrangements, and make the energy market more resilient and transparent for customers.
Speaking about the announcement, Stephen said: “The affordability crisis is the number one issue facing families in East Ham. I see it in my casework every day.
“Any fall in energy prices is welcome for households in East Ham. I will continue to follow developments closely and raise with ministers and regulators the issues my constituents report to me about affordability, energy security, and the need for a more stable system.”