34
Accepted
We ask Ofgem to undertake an immediate review of the costs and benefits of the...
Recommendation
We ask Ofgem to undertake an immediate review of the costs and benefits of the energy price cap to inform decisions about its operation and alternative forms of price protection.
Government Response Summary
Ofgem carries out detailed reviews of the costs and benefits to consumers for every decision made with regard to the price cap, such as those published in early August 2022. There will be an opportunity for a wider review of all elements of the the energy price cap will be undertaken as part of discussions with Government on the future of price protection for consumers as the Energy Price Guarantee draws to a close.
Paragraph Reference
142
Government Response
Accepted
Government Response
Accepted
HM Government
Accepted
Ofgem carries out detailed reviews of the costs and benefits to consumers for every decision made with regard to the price cap, such as those published in early August 2022. Each year Ofgem also publishes its assessment of whether conditions are in place for effective competition in domestic supply contracts. The Energy Price Guarantee will continue until 1 October 2024. There will be an opportunity for a wider review of all elements of the the energy price cap will be undertaken as part of discussions with Government on the future of price protection for consumers as the Energy Price Guarantee draws to a close.
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