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Re: [MERGED] Utility companies - price rises
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Originally Posted by Mr K
Some sort of cap on tariffs/profits might be the answer. Theresa promised this (copying Ed Miliband), but hasn't delivered. Poor show old girl.
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Quote:
Originally Posted by denphone
Its amazing how many things us the electorate are promised by UK politicians and yet so many of them either don't turn out the way we hoped for or never happen at all.
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It was granted a Royal Assent on the 19th July 2018, and is now an Act of Parliament (law).
https://services.parliament.uk/bills...tariffcap.html
https://www.gov.uk/government/news/v...-to-become-law
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The Domestic Gas and Electricity (Tariff Cap) Bill will put in place a requirement on the energy regulator, Ofgem, to cap standard variable and default energy tariffs. The cap will tackle the amount consumers have been overpaying the Big Six energy suppliers, which the Competition and Markets Authority (CMA) found to be an average of £1.4 billion a year. Some consumers could save up to £350 a year on gas and electricity bills by switching suppliers...
...The cap will be in place from the end of 2018 until 2020 when Ofgem will recommend if the cap should remain on an annual basis up to 2023. Ofgem will review the level of the cap at least every 6 months while it is in place.
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Last edited by Hugh; 13-08-2018 at 18:47.
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