The UK Government’s energy price cap is “not some underground attempt to renationalise the energy sector”.
Energy and Clean Growth Minister Claire Perry said the government and Ofgem are “very committed” to putting it in place by the end of the year.
Speaking at the Energy UK annual conference yesterday, she added: “I actually think the price cap has landed us in a really good place because it’s time limited, Ofgem is obviously setting the cap based on considerations of all the competitive forces in the market and the investment needs of other issues like smart meters – but it will protect consumers from pricing mechanisms that, frankly, are costing them too much. And it will do it in a way that I think incentivises the industry to deal with those pricing structures and bring forward more innovation in a short order.”
Ms Perry also insisted energy bills have gone down since 2012 because of the improvements in energy efficiency and with support by programmes such as the Energy Company Obligation (ECO) scheme.
The energy minister said the UK has also led the G7 group in growth since 1990 and in the reduction of carbon emissions – and is “miles ahead” of other EU nations having cut emissions by 3.6% since 2000.
She added the UK’s first ever Green GB Week was launched to celebrate what the nation has achieved while highlighting the opportunities clean growth offers and believes the idea the low carbon future is a “cold, dark place to be is completely wrong”.
On the UN Intergovernmental Panel on Climate Change’s (IPCC) recent landmark report – which urged “rapid and unprecedented” action to limit global warming – Ms Perry said she is “incredibly alarmed” but “really proud” of UK science and scientists on their role in understanding and identifying problems over the years.
She also announced the launch of a new Energy Data Taskforce, which will undertake a review of the data landscape, identifying gaps and making suggestions on how data can be used more effectively in the energy system