A champion of price caps and a critic of suppliers’ behaviour has been chosen to lead the UK’s energy regulator, Ofgem. In an effort to toughen up the watchdog, which has been criticised for being soft on energy firms, regulatory economist Martin Cave has been selected as the regulator’s new chair just months before it is due to impose a price cap on energy bills. A Whitehall source said: “This appointment would send a clear signal to retail energy bosses that the government wants a strong regulator to design and bring in the cap ahead of the winter and protect millions of households from unfair price rises.” The decision to appoint Cave, who is the preferred candidate of the business secretary, Greg Clark, makes clear there will be no rowing bac k on plans for a cap.
Guardian 25th June 2018 read more »