Source · Select Committees · Business and Trade Committee
Recommendation 32
32
Acknowledged
Paragraph: 134
Ofgem should update the cost benefit analysis of its proposal for a quarterly price cap,...
Conclusion
Ofgem should update the cost benefit analysis of its proposal for a quarterly price cap, so it reflects the risk of prices increasing this January, in order for Ofgem, the Government, and Parliament to fully understand the potential impacts for vulnerable customers.
Government Response Summary
Ofgem is reviewing its approach to the price cap in light of the Energy Price Guarantee and will update the Committee in due course.
Paragraph Reference:
134
Government Response
Acknowledged
HM Government
Acknowledged
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.