31
Accepted
We welcome more frequent calculations of the price cap if this stabilises the supplier market...
Conclusion
We welcome more frequent calculations of the price cap if this stabilises the supplier market amid current market conditions. However, Ofgem’s cost benefit analysis of its proposed move to quarterly price cap updates did not consider the impact that further price rises in January 2023 could have on vulnerable customers, including an increased risk of self-disconnections.
Government Response Summary
The government states that the introduction of the Energy Price Guarantee means there is no longer a risk of prices increasing for consumers in January and Ofgem is reviewing its approach in light of the Energy Price Guarantee and will update the Committee in due course.
Paragraph Reference
133
Government Response
Accepted
Government Response
Accepted
HM Government
Accepted
The introduction of the Government’s Energy Price Guarantee means there is no longer a risk of prices increasing for consumers in January. Ofgem is reviewing its approach in light of the Energy Price Guarantee and will update the Committee in due course.
Source
Committee
Business and Trade Committee
Report
Third Report - Energy pricing and the future of the Energy Market
26 Jul 2022
HC 236
Addressee Bodies
Department for Business and Trade
Timeline
Recommendation age
3.8 yrs
Report published
26 Jul 2022