Shares in utility stocks took a late hammering on Wednesday after Prime Minister Theresa May reignited her plans to enforce a price cap on energy bills.
Energy Voice 5th Oct 2017 read more »
Theresa May wipes billions of pounds from energy industry shares after price cap announcement.
Independent 4th Oct 2017 read more »
The Government will push the energy regulator to impose price caps as early as this winter to provide “early relief” to consumers paying over the odds for their gas and electricity, the business minister has said. Greg Clark said that he wanted Ofgem to use its existing powers to impose caps on standard variable tariffs as soon as possible, to help customers “suffering a detriment” in their energy bills. The move could affect up to 15 million households in the UK, who could be paying up to £1.4bn more than they need to. “We’ve said it would be better and quicker if they [Ofgem] used these powers straightaway,” Mr Clark told the BBC’s Today programme, admitting that such a move could spark a legal challenge from the industry.
Telegraph 5th Oct 2017 read more »
More than £1 billion was wiped off the value of Britain’s two biggest energy suppliers yesterday after Theresa May confirmed that she would press ahead with a sweeping price cap on standard tariffs. The prime minister said that the government would publish a draft bill next week “to put a price cap on energy bills, meeting our manifesto promise and bringing an end to rip-off energy prices once and for all”.
Times 5th Oct 2017 read more »
