Responding to a fall in the Energy Price Cap, Dillon Smith, CPS Energy and Environment Researcher and author of ‘The Case Against the Energy Price Cap’, said:
‘While a fall in the energy price cap is welcome, today’s announcement does not disguise the need for change. The cap was designed for yesterday’s market and is not fit for the current or future needs of consumers or the energy market. The cap discourages firms from proper competition and offering lower tariffs – something which could create real savings for Brits this winter.
‘There are now a wide range of voices – including Ofgem Chief Exec Jonathan Brearley – calling for reform of the price cap. Government should rethink its approach to price protection, while introducing a stronger bulwark against fuel poverty such as a social tariff.’
ENDS
NOTES TO EDITORS
- Dillon Smith is the Energy and Environment Researcher at the Centre for Policy Studies and author of ‘The Case Against the Energy Price Cap’.
- For further information, please contact Emma Revell, CPS Head of Communications, on 07931 698246 and [email protected].
- The Centre for Policy Studies is one of the oldest and most influential think tanks in Westminster. With a focus on taxation, economic growth, business, welfare, education, housing and green growth, its goal is to develop policies that widen enterprise, ownership and opportunity.
Date Added: Friday 25th August 2023
