Energy watchdog Ofgem is set to be handed new statutory powers – dubbed a “nuclear deterrent” – to end inflated prices. The new legislation to free people from “rip off” energy tariffs should be operating next winter, a move which would protect 11 million customers. The law will allow energy regulator Ofgem to limit how much companies can charge customers for their standard variable tariffs. Tory former minister John Penrose, who welcomed the Domestic Gas and Electricity (Tariff Cap) Bill’s departure from the Commons for Royal Assent, said he hoped the new powers would “never need be used”.
ITV 18th July 2018 read more »