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Energy price cap to be reviewed
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The_Green_Hornet
Posts: 1,590 Forumite
in Energy
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.
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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."
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