That the Parliament notes the announcement by Ofgem that the energy price cap will increase by 5% for the first quarter of 2024; understands that this represents a rise of £94 a year for the average household; believes that this is another disappointing development for millions of households that are having to absorb rising prices and mortgage rates; further believes that the energy price cap should be subject to six-monthly, rather than three-monthly, reviews to provide greater budget certainty for consumers, supplying them with lower bills for longer and allowing greater protection than they have under the current system; is concerned that these increases will push more households into financial hardship, and calls on Ofgem and the UK Government to review the price cap system to ensure that it provides a robust protection for all consumers, particularly vulnerable households.