Last mentioned: Mar 9, 2026
New Cap Implementation
New, potentially higher energy rates take effect for millions of UK households.
The Crunch Point
Ofgem expected to announce the Price Cap for July-September, likely reflecting recent wholesale spikes.
Price Cap Reduction
Regulated energy bills drop by 6.7%; existing fixes cut by up to 9%.
Miliband-Lewis Briefing
Energy Secretary Ed Miliband calls Martin Lewis to discuss wholesale price volatility.
Resignation Announced
Brearley announces he will step down to allow for new leadership in the net-zero transition.
Price Cap Drop
Ofgem confirms annual energy bills will fall by £117 from April 2026.
Bulb Energy Sale
Ofgem oversees the controversial sale of Bulb Energy to Octopus Energy.
Energy Crisis Begins
Wholesale gas prices spike, leading to the collapse of dozens of UK energy suppliers.
Brearley Appointed
Jonathan Brearley takes over as CEO of Ofgem from Dermot Nolan.
Personal finance expert Martin Lewis has issued a stark warning that UK energy bills represent a 'ticking time bomb' due to rising wholesale costs linked to conflict in Iran. While prices are set to fall in April, a significant 'crunch time' is expected in May when the next regulatory price cap is announced.
Jonathan Brearley has announced his resignation as CEO of Ofgem, ending a six-year tenure defined by the 2021 energy crisis and the implementation of the price cap. His departure triggers a high-stakes search for a successor to lead the UK's regulatory transition toward a decarbonized power grid by 2030.