‘Energy price cap is a retrograde step for the market’

Could the introduction of regulation to put an upper limit on prices be a backwards step for the last decade’s efforts to introduce more competition?

By Jonny Bairstow
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The energy price cap is a retrograde step for the market.

That’s according to Caroline Pitt, Energy Consultant and ELN’s Policy Expert, who said the introduction of regulation to put an upper limit on prices is a backwards step on the last decade’s efforts to introduce more competition and liberalise the sector.

Speaking on the panel at the third Energy Live Consultancy Conference (ELCC) at Manchester’s Etihad Stadium, Ms Pitt suggested although there is a lot of positive change happening in the market, such as more suppliers and switching, the pace of some programmes are happening too slowly.

She added: “The pace of change is causing us some problems, so if you look at the smart meter roll out, that’s happening slower than anyone anticipated and slower than we’d hoped so despite the fact the smart meter roll out is happening is a good thing, the fact it’s happening slowly is not so good.”

Click here to see more footage from ELCC.