Price cap on energy bills urgently needed, says committee

      Published on Tuesday, 13 February , 2018      201 Views     
Price cap on energy bills urgently needed, says committee

  • UK Business

Competition was not working and had failed to deliver fair prices for consumers, a select committee said.

The committee said it was “underwhelmed by the feeble steps” taken by energy companies to avoid government action.



The cap should be temporary and fixed at an “absolute” level, rather than set relative to other tariffs.

Legislation should be passed before the summer recess, the report suggested, which should allow the cap to be in place before the end of the year.

The Business, Energy and Industrial Strategy Committee has been examining the government’s draft bill to cap energy tariffs, following a commitment made last year by Theresa May.

“The Big Six energy companies might whine and wail about the introduction of a price cap,” said Rachel Reeves, the committee’s chairwoman.

“But they’ve been overcharging their customers on default and standard variable tariffs for years and their recent feeble efforts to move consumers off these tariffs has only served to highlight the need for this intervention.”

bbc.co.uk



Bulgarian Business Club London

Keywords:
Category UK Business | 2018/02/13 latest update at 9:00 AM
Source : | Photocredit :
202 Views
Comments Add comment



Bulgarian Business Club

Related Articles

The editorial staff of Bulgarian Business Club would like to give all of its readers from Bulgaria and the whole world the opportunity to participate actively in the development of the website! If you have something interesting, fun, scandalous - just something worth to be seen from more people. Capture it and share it in the Bulgarian Business Club with a short text.

Do you have information you want to reach our readers?

Send article/s

You can subscribe to our Facebook, Twitter or use our RSS feed channel to always read the most important news about Bulgaria.


Sponsored Publications