Harrington Brooks’ response to Conservative’s energy prices plans
Matthew Cheetham, CEO of Harrington Brooks, said in response to the Government’s plan to introduce a cap on energy prices:
“Increasing energy bills can really stretch the finances of those living on tight budgets. A rise of just a few pounds on standard variable tariffs can make a big difference to someone with virtually no disposable income at the end of the month.
“That’s why it’s really promising to see that the Government is recognising this issue by proposing an energy price cap which will help consumers budget for what they’re spending on gas and electricity. Any plans to try and alleviate some of the pressure that everyday people face on their finances are always welcome. Proposals like this can help people move towards a place of sustainable financial wellbeing.
“However, it’s also important that energy customers are easily able to switch to the best deals available. Ofgem is currently consulting on plans* that will let energy customers change suppliers in less than 24 hours. This would mean that people would be able to take advantage of the best deals available. And by doing this, they could start to free up some cash from their budgets.
“Hopefully this would stop people struggling to afford their essential bills and instead ultimately start to get in control of their finances for the long term.”