Ministers welcome protection from high energy prices to 1 million consumers by extension of Ofgem safeguard tariff cap
Energy and Clean Growth Minister Claire Perry has welcomed the protection that 1 million more vulnerable consumers will get this winter from the extension of the energy regulator’ safeguard tariff cap.
With the cap in place, these consumers will only see an increase of around 3.7% in their bills as opposed to an average 8% increase of dual-fuel standard variable tariffs of the Big Six last year.
Energy and Clean Growth Minister Claire Perry said: “It is a positive step that a million vulnerable consumers are now being protected from unfair energy price rises through the energy cap.”
Ofgem’s extension of the current prepayment meter cap to those who receive the Warm Home Discount means 5 million people are now protected from unfair energy price rises.
She continued: “But energy tariffs are still too high – customers of the Big Six energy suppliers are overpaying by up to a staggering £1.4 billion a year. This is totally unacceptable and why government will continue to go further – including by bringing in new laws in the forthcoming energy Tariff Price Cap Bill to put an end to rip-off standard tariffs.”
The move comes as the government’s own energy Tariff Price Cap Bill is expected to be introduced to Parliament shortly. The Bill will extend the price cap to the highest tariffs.
