Ofgem delays publication of energy price cap level

It will give the regulator more time to consider the consultation responses by industry

Ofgem has delayed the publication of the proposed level of the energy price cap which was expected next week.

It will instead set out the draft details on the rules and level of the price cap – based on the latest estimates of energy costs in the autumn – in early September.

Anna Rossington, Deputy Director, Retail Price Protection at Ofgem said: “This change is to allow us to fully review and consider the responses that we received following the publication of our policy consultation, which closed on 25 June 2018.

“It reflects our commitment to an open and transparent process in the design and implementation of the default tariff cap. It is also to enable us to prepare full materials for the statutory consultation, to help stakeholders to provide further well-informed responses.”

The regulator, however, insisted the price cap is still expected to be put in place by the end of this year.

It recently increased the amount energy suppliers can charge vulnerable customers by £47 a year due to higher wholesale costs.

Latest Podcast