Source · Select Committees · Business and Trade Committee
Recommendation 31
31
Accepted
Paragraph: 133
We welcome more frequent calculations of the price cap if this stabilises the supplier market...
Conclusion
We welcome more frequent calculations of the price cap if this stabilises the supplier market amid current market conditions. However, Ofgem’s cost benefit analysis of its proposed move to quarterly price cap updates did not consider the impact that further price rises in January 2023 could have on vulnerable customers, including an increased risk of self-disconnections.
Government Response Summary
The government states that the introduction of the Energy Price Guarantee means there is no longer a risk of prices increasing for consumers in January and Ofgem is reviewing its approach in light of the Energy Price Guarantee and will update the Committee in due course.
Paragraph Reference:
133
Government Response
Accepted
HM Government
Accepted
The introduction of the Government’s Energy Price Guarantee means there is no longer a risk of prices increasing for consumers in January. Ofgem is reviewing its approach in light of the Energy Price Guarantee and will update the Committee in due course.