Since we introduced the cap in 2019, we have continued to monitor the cap methodology and made changes as appropriate.
The price cap Programme of Work (PoW) sets out the workstreams we intend to prioritise over the next 2-3 years. This provides stakeholders with greater visibility of our upcoming policy changes and the range of issues we are considering.
The PoW is subject to further change to ensure we remain flexible and responsive to future challenges in the market and changes in Ofgem’s priorities.
We welcome stakeholder views on our work plan outlined in this letter and may adapt our current PoW in response to this feedback. We request that stakeholders send their views by 3 January 2023 by email to Retailpriceregulation@ofgem.gov.uk.