by Ollie Gray, business development director, Charis
When the EPG Energy Price Guarantee was introduced last autumn by the flash-in-a-pan Liz Truss government, it was set to run for two years, from October 2022 to September 2024.
We all know what happened to Liz - and her EPG promise was also cut short (maybe not quite as short as her tenure in number 10).
Looking back over the winter months of 2022/23, most of the funds and grants allocated to households to help them with rising energy costs have been akin to trying to stop leaking water from a pipe with a roll of tissue. Many households quickly achieved saturation when it came to what they could afford. Although, in part, this was due to the fact that energy prices increased beyond the additional support that was offered, it was also down to the fact that inflation was peaking at over 10 per cent, interest rates had shot up, and in general overall household income was squeezed on all sides, with no equivalent increase to household income.