Ofgem launches discussion on the future of the price cap

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  • #269888
    joss
    Moderator

      Publication date 25 March 2024. I thought this might be of interest to forum members to read.
      What are your thoughts on this ? Ofgem launches discussion on the future of the energy price ca

      Regulator opens up the conversation around the future of price protection as the energy market continues to evolves.

      As part of the discussion paper, Ofgem has set out a range of options for the future of the price cap, including: 

      introducing a more dynamic cap with time-of-use dependent unit rates to encourage consumer flexibility.

      Introducing a targeted cap which could be based on a variety of factors such as vulnerability.

      introducing more flexible, market based price protections such as setting a limit between a supplier’s default tariff and tariffs available in the market, capping the margin suppliers are able to make, or replacing the cap with a ban on acquisition only tariffs

       

      Joss
      Current car: Peugeot 308 GT Premium 1.2 Pure tech Petrol.

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    • #269895
      kezo
      Participant

        Read about this yesterday and the first thing that came to mind was the ulteria motives surrounding smart meters when they first came about!

        #269915
        Brydo
        Participant

          @joss this the way it’s heading, octopus energy have introduced various options for customers and if you have the money to install battery storage etc there may be a bit of dish to be made.

          The problem with the energy market is that nobody knows what the price will be in six months so decisions are based on today’s price but could be much cheaper in the future.

          One thing I have noticed in my recent research is that English customers are getting a far better deal than us in Scotland. Standing charges are much cheaper down south and the very cheap 7.5p per kWh is not available up here the cheapest rate being 9p per kwh. Not a massive difference but depending on your use and electric car usage, through into the mix an air source heat pump and the difference starts to add up.

          The only person who got all his work done by Friday was Robinson Crusoe.
          Anything i post over three lines long please assume it is an article lol.

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