To ask the Secretary of State for Business, Energy and Industrial Strategy, what assessment has he made of the potential merits of the energy price cap for consumers in (a) the Scottish Borders, (b) Scotland and (c) the rest of the UK.
19 May 2020
The Government introduced the Domestic Gas and Electricity (Tariff Cap) Act on 1January 2019 to protect GB consumers on default tariffs This followed the Competition and Markets Authority’s (CMA) two-year investigation into the energy market, which concluded that energy customers on default and standard variable tariffs were being significantly overcharged.
The cap currently protects around 11 million households on default tariffs across GB. Ofgem estimate that the tariff cap is saving consumers between £75 and £100 per year on average and a total of £1 billion annually.