Energy: quite a month.
Price cap. Safeguard tariff. Default tariff.
Energy price announcements fluttered down like the leaves.
- Government published a draft bill (1) it says “would see rip-off energy prices capped for millions of households”. Citizens Advice said the bill was “an important step towards an energy market that works better for consumers” (2).
- Ofgem, the energy regulator, has introduced a prepayment safeguard tariff to protect 1m more vulnerable customers this winter and 2m more next year (3). This is in part response to a strong campaign by Citizens Advice.
- Dieter Helm in an independent ‘Cost of Energy Review’ commissioned by the prime minister proposed a default supply tariff to ensure loyal – non-switching – customers are no longer overcharged (4). Prof Helm says “There will always have to be a default tariff for those with better things to do than trawl the internet trying to comprehend the myriad ‘deals’ and ‘offers’”.
That’s a lot of leaves. Finally, we hope, policy-makers realise we citizens and consumers want action on energy overcharging.
1 Draft tariff cap bill published by government, BEIS, 12/10/17
2 Citizens Advice hails the energy price cap legislation, Citizens Advice, 12/10/17
3 Ofgem extends price protection, Ofgem, 11/10/17
4 Cost of energy: independent review, BEIS, 25/10/17
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