Update on retail price protection: August 2018
Correspondence and other
Publication date
Industry sector
Supply and Retail Market
On 18 July 2018, Parliament passed the Domestic Gas and Electricity (Tariff Cap) Bill, and it received Royal Assent on 19 July. This legislation requires Ofgem to design and implement a temporary cap on standard variable tariffs and fixed term default tariffs (‘default tariffs’). We have already started work on the design of the default tariff cap, and published our first policy consultation on 25 May.
We have now updated our timetable for when we will publish our decision to the consultation, and our statutory consultation on the associated licence conditions. This is detailed in our open letter below.