Energy regulator Ofgem has announced that it is currently looking into the possibility of cutting the standing charge for gas and electricity.

The news has been welcomed by MP for Carmarthen East and Dinefwr Jonathan Edwards, who has spent months campaigning in Westminster for this to be considered along with other like-minded MPs.

“The rising cost of energy bills is placing severe financial pressure on households across the country,” Mr Edwards told The Guardian.

“The standing charge that’s currently being applied is having a disproportionate and significant impact on the poorest households.

"So I welcome the fact that Ofgem are now committed to reviewing this charge, as it will obviously go some way in helping families tackle the rising cost of living.”

But Mr Edwards stressed that he will continue to put pressure on regulators and the government.

“It’s clear that far more needs to be done to help families during this difficult time,” he said.

This latest announcement comes as bills look set to rise again in October with the energy cap set to rise by another £830 from £1,971 to £2,800 for the average household.

Ofgem is looking into how it could ensure households paid a "fair" price for their energy bills.

The standing charge element is currently added to all bills, regardless of how much energy is used.

Mr Edwards has co-sponsored Early Day Motions in parliament as well as asking many oral and written questions to the government on this issue.