Letter to Ofgem responding to its statutory consultation on the energy price cap.
The Domestic Gas and Electricity (Tariff Cap) Act 2018 requires the energy regulator, Ofgem, to put in place a cap on the prices that household consumers on default tariffs pay. Ofgem has been consulting on the design of that cap over the course of 2018. The final stage of its process required it to issue a statutory consultation on the proposed design of the scheme. Our response set out our view that its proposals are a reasonable and balanced package. We also suggested there were a range of issues around communicating and monitoring the implementation of the cap where we could work constructively with the regulator.