Energy regulator announces quarterly review of prices

The cost-of-living crisis, in which millions of people - especially the old and the poor - are facing extreme hardship, is above all the consequence of inflation in energy costs. This increase in energy prices is caused by global factors – from the post-pandemic pressure on supply chains to Russia's invasion of Ukraine – which have caused wholesale prices to soar. Ofgem has changed how they will run the energy price-cap so that it can be revised more than just every six months. They say this will make the companies more responsive, and fair. Amol Rajan spoke to Jonathan Brearley, the CEO of Ofgem who told him how the new system would work. (Image, Smart meter, Credit, PA Images)