Source · Select Committees · Business and Trade Committee
Recommendation 34
34
Paragraph: 142
We ask Ofgem to undertake an immediate review of the costs and benefits of the...
Conclusion
We ask Ofgem to undertake an immediate review of the costs and benefits of the energy price cap to inform decisions about its operation and alternative forms of price protection.
Paragraph Reference:
142
Government Response
Not Addressed
HM Government
Not Addressed
Ofgem carries out detailed reviews of the costs and benefits to consumers for every decision made with regard to the price cap, such as those published in early August 2022. Each year Ofgem also publishes its assessment of whether conditions are in place for effective competition in domestic supply contracts. The Energy Price Guarantee will continue until 1 October 2024. There will be an opportunity for a wider review of all elements of the the energy price cap will be undertaken as part of discussions with Government on the future of price protection for consumers as the Energy Price Guarantee draws to a close.