35
Accepted
We call on the Government to consider the introduction of a social tariff for the...
Recommendation
We call on the Government to consider the introduction of a social tariff for the most vulnerable customers and a relative tariff for the rest of the market, to be introduced once wholesale energy prices have stabilised. We ask the Government and Ofgem to report its findings on the above issues within nine months of the date of this report.
Government Response Summary
The government states it is already protecting households through the Energy Price Guarantee and other existing policies, and will consider how price protection needs to evolve, with next steps to be set out in due course.
Paragraph Reference
143
Government Response
Accepted
Government Response
Accepted
HM Government
Accepted
The Government is introducing the Energy Price Guarantee to protect households from the spiralling costs of energy. The Guarantee will ensure that a typical household in Great Britain pays an average £2,500 a year on their energy bill, for the next 2 years, from 1 October 2022. Equivalent support will be provided in Northern Ireland. The Energy Price Guarantee is on top of the existing policies government has in place to protect vulnerable consumers and ensure those who need it, receive additional support. Government will consider how price protection needs to evolve as the energy system changes to ensure that households benefit from new technologies, tariffs, and business models. Government will set out next steps on the future of the retail market 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