LCCI Expresses Concern Over Ofgem Price Cap Announcement

Tuesday 25 February 2025

Karim Fatehi OBE, CEO of the London Chamber of Commerce and Industry, said:

"London businesses are increasingly concerned about rising energy bills following Ofgem’s announcement this morning that the price cap will rise by 6.4% in April.

“This increase, coupled with cost pressures from the Autumn Budget, particularly the rise in Employer National Insurance Contributions and cuts to business rates relief, poses a significant challenge to SMEs, the backbone of the British economy.

“We urge the government and regulators to implement measures that alleviate the energy burden on businesses, ensuring they can continue to drive innovation, job creation and economic growth, not just in London but across the whole of the UK."

ENDS