Monday, 3 July 2017

New energy price cap considered

A price cap on energy bills could be extended to many more households on low incomes, under plans being considered by regulator Ofgem.

A limit on the cost of gas and electricity for those on pre-payment meters already saves about four million people £80 a year.

This could be extended to about two million others on certain benefits.

The proposals come after a much wider cap in the Conservative manifesto was absent from the Queen's Speech.

The manifesto had suggested the energy market was not working for consumers and, in a widely-debated move, suggested a tariff cap to protect 17 million people paying standard rates. This would have saved them up to £100 a year.
However, after the election, new legislation required for the cap was missing from the government's plans for the next two years.

Instead, the government said ministers were "considering the best way" to protect those on the poorest-value tariffs.

BBC     News.

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