Energy: Prices

Question

There are no plans to introduce a new cap on energy prices. The Energy Price Cap is a temporary measure until competition in the market improves.

The Government announced in July last year that it would seek new legislation to enable future extensions of the price cap beyond 2023, if the conditions for effective competition are not in place.

Ofgem is required to set the energy price cap at a level that reflects the efficient cost of supplying households with gas and electricity.