Millions face winter bill increases, warns energy boss
BBC Business says the boss of Scottish Power has warned that millions of customers face an horrific winter unless there is a major government intervention in energy firms.
Keith Anderson, chief executive of Scottish Power, told the BBC that another expected rise in energy bills in October to between £2,500 and £3,000 a year could see huge losses for suppliers and many customers unable to pay their bills.
He warned regulator Ofgem that setting the new price cap too low could risk suppliers collapsing or the foreign owned firms leaving the market.
Mr Anderson has put some flesh on the bones of a plan he first mentioned in a frank exchange with a committee of MPs three weeks ago.
He has called for the millions of households to have their energy bills reduced by £1,000 this October.
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Read More:
https://www.bbc.co.uk/news/business-61373482
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