Energy: Price Caps
(asked on 5th July 2022) - View Source
Question to the Department for Business, Energy and Industrial Strategy:
To ask Her Majesty's Government what plans they have to introduce a relative price cap on energy bills.
Answered by
Lord Callanan
Parliamentary Under Secretary of State (Department for Energy Security and Net Zero)
This question was answered on 19th July 2022
The current price cap on domestic default tariffs is an absolute cap, as this is the best way to ensure that households are protected from the effects of the loyalty penalty. The level of the price cap is set by Ofgem.