Millions of households on prepay gas and electricity meters could see their bills rise following a review of the energy market by the competition watchdog. The Competition and Markets Authority (CMA) wants to change the way it calculates the price cap on pre-paid meters, which was introduced in April 2017 as a temporary measure until the roll-out of smart meters was completed. The price cap sits at £1,242 a year, but the CMA has said it is too low and needs to rise to reflect higher costs for utility companies.
Telegraph 7th June 2019 read more »
Four million vulnerable households using prepayment gas and electricity meters could face higher bills under plans to tweak the energy price cap. A proposal from the Competition and Markets Authority risks raising bills by changing how the prepayment meter cap is calculated. The plan would ease the financial burden on energy companies by including more of the costs faced by suppliers, but will raise bills for homes using prepayment meters, which are typically more vulnerable. Peter Smith from the campaign group National Energy Action warned the proposal could “heap further misery on these customers, who could face yet more rises later this year”.
Guardian 7th June 2019 read more »