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

in Energy
3 replies 1K views
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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Replies

  • VT82VT82 Forumite
    1.1K Posts
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    Forumite
    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.
  • 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_MababejiveC_Mababejive Forumite
    11.6K Posts
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    Forumite
    There should not be any cap. I am not in the business of subsidizing the bills of others.
    Feudal Britain needs land reform. 70% of the land is "owned" by 1 % of the population and at least 50% is unregistered (inherited by landed gentry). Thats why your slave box costs so much..
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