Millions to see annual energy bills drop as price cap takes effect
Biggest shakeup since privatisation could also see savings lost ‘within months’
Millions of households will see their annual energy bills drop as the government’s price cap takes effect on Tuesday, but experts have warned that the saving will be wiped out within months.
The long-awaited ceiling on default tariffs amounts to the biggest shakeup of the energy market since privatisation. Unlike Ed Miliband’s proposed energy price freeze, the cap is a ceiling that can move up and down twice a year depending on the costs facing energy firms. While energy regulator Ofgem has said 11m households will save £76 a year based on typical consumption, industry watchers think that will soon be offset by a rise in the cap.
Continue reading...from The Guardian http://bit.ly/2AnqXqg
Comments
Post a Comment