Ofgem to increase price cap for vulnerable households AGAIN - MSE News

Former_MSE_Megan_F

Millions of households face paying an average of £47 a year more from October after the regulator announced it was increasing its energy price cap for prepay and vulnerable customers for the second time this year...

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'Ofgem to increase price cap for vulnerable households AGAIN'

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VT82

The value of a 'cap' is directly related to how long the cap applies for. Six months is nothing. They should have realised calling it a 'cap' was ridiculous when they introduced it.


On a side note, this story is going to get very boring if it's repeated every six months just so MSE can try and encourage clickthrough to the energy switching guide.

takman

Why is "AGAIN" written in bold? The cap is designed to change every 6 months depending on market prices and market prices have increased, so it's not really a surprise is it?

VT82 wrote: »

The value of a 'cap' is directly related to how long the cap applies for. Six months is nothing. They should have realised calling it a 'cap' was ridiculous when they introduced it.

So by that logic the longer you fix a mortgage for the more valuable the deal is? Yet many people who fixed for 10 years in early 2008 will have overpaid considerably.

C_Mababejive

There should not be any cap. I am not in the business of subsidizing the bills of others.