Chancellor Jeremy Hunt says ‘businesses must play their part too’ as he urges watchdogs to ease pressure on consumers in new cost of living deal
Following Wednesday’s meeting with the Chancellor, the Financial Conduct Authority have agreed to deliver better deals for savers by driving competition.
Ofcom has said it will push suppliers who have yet to introduce discount deals for vulnerable customers to do so and waive fees for any customers who want to switch providers to access these deals. A new cap introduced from Ofgem on July 1 is also set to reduce the typical annual household energy bill by £426.
It comes after the chairman of the National Infrastructure Commission said a future where water bills could rise by a much as 40% in the next few years are “probably not unrealistic”, speaking to The Times.
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