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Govt - Energy price cap
« on: Feb 26, 2018, 05:47:29 am »
 

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The Independent


Energy price cap: Government to introduce legislation to limit how much power firms can charge
http://www.independent.co.uk/news/uk/home-news/energy-price-cap-parliament-charge-british-gas-centrica-edf-npower-eon-scottish-sse-a8228206.html





'A bill introducing an energy cap for 11 million households across Britain will be introduced to Parliament today.

The Government claims the Domestic Gas and Electricity Bill, which will allow the regulator Ofgem to limit tariffs until 2020, could save people up to £100 a year.

Theresa May said the bill would “force energy companies to change their ways”. Spam_A Spam_B A 2016 report by the Competition and Markets Authority found consumers were paying around £1.4bn a year in excessive fees charged by the six largest energy company’s standard variable tariffs (SVTs).

Announcing the bill, which the Government hopes will come into force before next winter, Ms May said: “It’s often older people or those on low incomes who are stuck on rip-off energy tariffs, so today we are introducing legislation to force energy companies to change their ways.

“Our energy price cap will cut bills for millions of families.”

The idea of energy price freezes was floated by then-Labour leader Ed Miliband in 2013 amid concerns over price hikes, and was criticised by Conservatives at the time.'



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