price cap

The energy sector has responded to the government’s announcement that a price cap on domestic bills will come into force in the New Year

Ofgem has confirmed the final level of the cap at £1,137 per year for a typical dual fuel customer

Consumer body Which? found more than 70 fixed tariffs are more expensive than the proposed energy price cap

The energy and clean growth minister insisted bills have gone down since 2012

The price cap is expected to save UK households an average of around £75 a year

It will be confirmed in November and come into effect towards the end of December

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

Martin Cave previously said the temporary price cap was needed to protect consumers from unfair energy price rises

It is seeking views on its proposals until 31st May 2018

Chief Executive Alistair Phillips-Davies is also calling for greater clarity around the conditions under which a price cap would be removed