No, Ofgem does not control the price of gas and electricity beyond setting the energy price cap level. The price of energy is set by thegas & electricity suppliers. The energy suppliers say the price of energy is mostly influenced by supply and demand, which affects the cost of buying gas...
Unit rates24.86p per kWh6.34p per kWh Standing charge60.97p per day31.65p per day Will the next energy price cap level be higher or lower? It's difficult to say where energy prices will go because the wholesale market is still so unpredictable. However, EDF regularly examines the latest de...
Ofgem has announced a drop to its energy price cap from the current £3,280 per year to £2,074 for the average household in England, Wales and Scotland.The change, which will take effect from July 1, is due to falling wholesale energy prices. ...
An Energy UK spokesman said: "As Ofgem recently stated, suppliers have lost £4bn over the last four years - something which this analysis appears to have overlooked. So it's clear that the theoretical margin allowed in the price cap does not equate to profits made in reality - showing t...
The massive jump in the energy price cap in April has already pushed the country's inflation to a 40-year-high, as the Consumer Prices Index (CPI) rose by 9.0 percent in the 12 months to April. Earlier this month, the Bank of England expected inflation to peak at "slightly over 10 ...
More on Energy Price Cap Energy price cap now expected to rise in April as bills increase again in January Energy price cap rises again - with cost of bills expected to stay high for months Energy bills to rise again from January but spring falls to come, research firm Cornwall...
APRIL WILL SEE a 12 per cent drop on the UK household energy price cap as wholesale gas and electricity prices have fallen.The Financial Times reports that Ofgem has set the price cap for April to June period at ￡1,690 a year for a typical household,down from ￡1,928.Gas International...
Derogation from the price cap affords the Company the flexibility to reflect these costs within its tariffs. During the compliance period assessed by Ofgem, Good Energy's SVT for a typical dual fuel customer was at times higher and in line with the level of the price cap. ...
The MSC means suppliers are required to pay part of the wholesale energy losses caused when it acquires a new customer to the losing supplier. This only comes into effect when the wholesale power price falls considerably below the level assumed in the price cap. ...
The energy regulator considers what a future price cap might look like, and invites opinions from charities, consumer groups, businesses, bill-payers and suppliers.