Spiralling energy bills could go up AGAIN as watchdog hands itself new powers to make emergency price cap changes

SPIRALLING energy bills could go up again before October after the energy watchdog handed itself new powers to make emergency price cap changes. It came as critics hit back at the Chancellor’s package of help — saying one in ten of the poorest households in England will not be eligible for the £150 rebate. Around […]

SPIRALLING energy bills could go up again before October after the energy watchdog handed itself new powers to make emergency price cap changes.

It came as critics hit back at the Chancellor’s package of help — saying one in ten of the poorest households in England will not be eligible for the £150 rebate.

Around 640,000 of them live in Band E+ properties not eligible for the council tax reduction, the Resolution Foundation said. Also, many renters pay it to their landlords directly so could also miss out.

Meanwhile, the Bank of England boss has warned that inflation and pay may not recover to normal levels for another two years.

Andrew Bailey said: “We’re going to see a reduction in real income.”

His comments came after the Bank said inflation is likely to hit 7.25 per cent in April.

And energy bills are set to stay high for years to come, the Foundation said.

There are also fears over other living costs including water bills rises.

Rishi Sunak revealed a £150 council tax rebate and £200 energy bills loan plan yesterday to help Brits with the £693 spike from April.

Scottish Power and EDF have already confirmed they will up bills in line with the cap hike.

At the moment Ofgem can only change the cap twice a year but soaring wholesale forced dozens of firms out of business at the end of last year.

Yesterday it announced a rules shake-up which would allow it to change prices multiple times a year from April.

The energy minister refused to rule out another package of help together within months if the squeeze continues.

Greg Hands said: “Of course we won’t hesitate to act if we need to defend consumers.”

There were renewed calls to axe the planned NI hike.