COMMONS

Ofgem and Centrica questioned on energy price cap

17 October 2017

The Business, Energy and Industrial Strategy Committee questions major energy companies about the different energy price cap proposals and their implications for customers, energy prices and competition.

Safeguard tariff and price cap bill

The Committee questions Ofgem and Centrica, OVO Energy, and Professor Catherine Waddams, Professor of Economic Regulation, Norwich Business School.

The session follows Ofgem's announcement about a safeguard tariff and the Government's draft price cap Bill.

'The energy market isn't working'

Rachel Reeves MP, Chair of the Business, Energy and Industrial Strategy Committee, said:

"The energy market isn't working. Millions of customers are stuck paying far too much for their gas and electricity with many facing exorbitant bills.

Vulnerable consumers face specific challenges when it comes to switching tariffs and finding cheaper options. Will Ofgem's safeguard tariff be the right solution for them? Will energy suppliers push up prices before the Government introduces its price cap?

As a Committee, we want to probe energy companies and the regulator about these proposals and ensure that the reality of a price cap can match the rhetoric by delivering lower bills for consumers and fixing the broken energy market".

Witnesses

Tuesday 17 October 2017, Committee Room 6

At 10.00 am

At 10.45 am

  • Dermot Nolan, Chief Executive, Ofgem
  • Rachel Fletcher, Senior Partner, Ofgem

Further information

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