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MSE News: Energy price cap could be introduced...

edited 26 February 2018 at 6:29PM in Energy
6 replies 1K views
MSE_AndrewMSE_Andrew MSE Staff
130 posts
Fourth Anniversary I've been Money Tipped! Energy Saving Champion
MSE Staff
edited 26 February 2018 at 6:29PM in Energy
An energy price cap could be introduced before next winter - but you don't need to wait, you can switch and save NOW...
Read the full story:
'Energy price cap could be introduced this year'

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Replies

  • Doc_NDoc_N Forumite
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    You can't really argue against it, obviously, because it will help those who are being ripped off by rapacious energy companies.

    But it will, equally obviously, do away with the very best of the cheaper deals those who are prepared to put a bit of effort in manage to get.

    Cross-subsidisation has a lot of advantages, but when it's the less well off subsidising the better off, as it is here, it's difficult to argue in favour of the present system - even though we've had some cracking deals out of it!
  • brewerdavebrewerdave Forumite
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    ....but those of us who chase the best deals shouldn't be punished - there are a LOT of relatively well off people who can't be bothered to switch as well as the less well off.
  • SystemSystem
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    Watch out for a steady increase in fixed tariff prices over the next few months, and a fall in the number of standard variable rate tariffs on the market.
  • VT82VT82 Forumite
    1.1K posts
    Feels like British Gas have got out of this before it's even been announced - now rolling people onto a one year fixed rate at the end of their current deal, which can be as high as they like, and it won't be subject to the cap because it's not a 'standard variable tariff'.


    This disruption of the free market already feels like it is being bungled. With the well-intentioned but often inept Conservative party drafting it (see how they've screwed up on tuition fees and annual rail fare increases for starters), and with the completely useless Ofgen managing it, you just know nothing good will come of this.
  • brewerdave wrote: »
    ....but those of us who chase the best deals shouldn't be punished - there are a LOT of relatively well off people who can't be bothered to switch as well as the less well off.
    But they're not living in fuel poverty.
  • SystemSystem
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    Politicians and Ofgem cannot get their minds around the fact that the whole process of switching suppliers is not understood or trusted. Consumers on limited incomes want to be in control of their expenditure.

    I received this e-mail over the weekend:

    Your final bill with your old supplier

    In our experience, it can take a long time to get your final bill from your old supplier — anything from 8 weeks to 8 months. The good news is you’ve already given us your opening meter reading, which really helps speed things up.

    The industry knows that suppliers are not complying with their Standard Licence Conditions and the Regulator just stands by and accepts the status quo.
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