The energy regulator has outlined plans for how it will set a proposed price cap on standard tariffs and has confirmed that it will not exempt most green energy deals from the limit. Ofgem has been handed the task of designing a cap that Theresa May, the prime minister, has promised will end “sudden and significant” price rises and will deliver about £100 savings on an average annual energy bill. It will apply to about 11 million households not already covered by existing caps that protect the poorest households, and is fiercely opposed by most of the leading suppliers. Consumer groups and MPs had criticised an early proposal to exempt green energy tariffs from the cap, fearing that the loophole could be exploited by suppliers to keep offering higher prices to large numbers of customers.
Times 26th May 2018 read more »