Price Cap - Statutory consultation on removal of the cap end date from licence conditions
Consultation
- Upcoming
- Open
- Closed (awaiting decision)
- Closed (with decision)
Publication date
Closed date
Industry sector
Supply and Retail Market
Licence type
- Electricity Supply Licence
- Gas Supplier Licence
Decision
The default tariff cap was set out in legislation through the Domestic Gas and Electricity (Tariff Cap) Act 2018, to protect current and future default customers. The cap was originally legislated to end in December 2023, however, last year, the Energy Prices Act 2022 removed the December 2023 end date to enable the cap to support the operation of the Energy Price Guarantee.
In our consultation of 3 February 2023, we proposed modifications to Standard Licence Condition (SLC) 28AD to reflect these amendments. Following this, through this statutory consultation we are seeking views on our draft modification notice to SLC 28AD and changes to the models annexed to SLCs that underpin the cap methodology.
We welcome stakeholder views on the proposals outlined in this consultation and may adapt our proposals in response to feedback received. We request that stakeholders send their views by 24 April 2023 by email to priceprotectionpolicy@ofgem.gov.uk.
Respond name
Dan Norton