Britain discussing rise in gas and electricity price cap - minister (updated)
23/09/2021 07:40
(Adds details)
LONDON, Sept 23 (Reuters) - Britain is having talks with
energy regulator Ofgem about whether or not a cap on gas and
electricity prices for consumers may have to go up, junior
business minister Paul Scully said on Thursday.
"We've had lots of conversations ... with companies
themselves, with Ofgem, in reviewing that price cap we clearly
want to protect customers," he told Sky News.
The price cap, set by Ofgem, limits the cost of energy for
about 11 million people on suppliers' default tariffs. It is
reviewed twice a year.
It is due to rise 12% on Oct. 1 to 1,277 pounds ($1,741) for
a household using an average amount of energy, and would in
normal circumstances be reviewed again in April 2022.
The wholesale price of gas has soared in recent weeks,
putting increasing pressure on suppliers, which typically have
customers on lower priced fixed contracts as well as standard
tariffs.
Two suppliers stopped trading on Wednesday and Ofgem has
warned that others will follow. urn:newsml:reuters.com:*:nL1N2QO1AC
($1 = 0.7334 pounds)
(Reporting by Guy Faulconbridge and Paul Sandle, writing by
James Davey)
((james.davey@thomsonreuters.com))