The energy regulator will deliver on Theresa May’s promise of saving households up to £100 a year when it unveils details of a new price cap on Thursday, analysts believe. Ofgem is preparing to announce how it will implement legislation to cap standard energy tariffs. Dermot Nolan, its chief executive, is under immense pressure to make a success of the policy as he nears the end of his initial five-year term in the role next March. A survey of 12 analysts conducted by the regulator’s investor relations team, details of which have been obtained by The Times, has revealed that the City is expecting a cap of £1,130 a year, on average. That would be £127 lower than Scottish Power, the most expensive of the Big Six suppliers, which said last week that it was raising its prices to an average of £1,257 a year.
Times 1st Sept 2018 read more »