Energy price cap to be reviewed

The_Green_Hornet

The UK energy watchdog has said it will review how the price cap on gas and electricity bills is calculated following a series of company failures.

Ofgem said there had been an "unprecedented" rise in wholesale energy prices.

Suppliers are unable to pass on the full rise to consumers because of a price cap on household bills, prompting a number of firms to collapse.

Ofgem will examine if the price cap reflects the risks facing companies.

https://www.bbc.co.uk/news/business-59088216

MWT

No impact on the current price cap though, just in case anyone was worried.

"It will launch the consultation in November. A decision on any changes will be published in February, when the new price cap will be announced before it is implemented in April."