View Image

Ofgem is set to wipe thousands of household energy bill debts off. The regulator has announced plans to "reset and reform" the UK's growing energy debt, aiming to write off up to £500 million of historic arrears.

This initiative could assist approximately 195,000 individuals struggling with energy debt accumulated during the ongoing crisis. A new £5 charge is expected to be added to household energy bills to help suppliers recover uncollected sums.

But this could be lower based on scheme uptake . The total money owed to energy suppliers by households in England, Scotland, and Wales reached a record £4.4 billion by the end of June.

READ MORE SUV drivers face new 'premium' to park their cars in part of UK

The first phase of the debt relief scheme is set to launch early ne

See Full Page