UK Energy Watchdog Opens Price-Cap Consultations -- Update
19 November 2021 - 12:39PM
Dow Jones News
By Joe Hoppe
The U.K.'s energy regulator said Friday that it has launched
consultations on new price-cap proposals to ensure prices reflect
the costs, risks and uncertainties facing energy suppliers,
including changing maximum charges.
The Office of Gas and Electricity Markets said the consultations
will assess the impact of market volatility on price caps, the
process for updating default tariff caps and setting maximum
charges, and allowing Ofgem to change caps outside the usual
six-month cycle. Others concern Covid-19 costs, prepayment meter
customers, and adaptations for the energy company obligation
scheme.
Ofgem said it will accept views from interested parties on the
proposals until Dec. 17. Most decisions will be published by the
beginning of February, Ofgem said, adding that a final decision
relation to coronavirus costs will be published by August.
Write to Joe Hoppe at joseph.hoppe@wsj.com
(END) Dow Jones Newswires
November 19, 2021 06:24 ET (11:24 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
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