Upon taking office on 6 September 2022, the first piece of major policy introduced by the new Prime Minister, Liz Truss, is the Energy Price Guarantee (EPG), announced on 8 September 2022. The EPG is a series of support measures targeted at protecting domestic and business consumers from soaring energy prices this coming winter and into 2023.
This blog discusses how the EPG fixed the Default Tariff Cap and how this may affect Business Consumers and Domestic Customers.
Regulation and policy
Introduced during a period of record high energy prices, the UK Government's energy support schemes came to an end on 31 March this year. Evaluating emergency measures such as these purely on their value for money is difficult, as the policy was intended to serve multiple purposes. At the time...
Home supply and services
With the Default Tariff Cap falling by 17% compared to the Energy Price Guarantee (EPG) at the start of the month, there has been a great deal of attention around the possible return of fixed tariffs for domestic consumers. Several fixed tariffs were indeed launched in recent weeks, representing a...
Regulation and policy
Once again, a UK budget has seen some significant energy policy announcements that will stir up conversation and opinion across the country. It also shows how reining in energy prices is seen as key to restraining inflation. The pre-budget announcement to maintain the Energy Price Guarantee (EPG) at £2,500 had...
Home supply and services
On 7th March the government published the summary of responses received from its Review of Electricity Market Arrangements (REMA) consultation. The responses received showed the industry has expressed strong support (92% agreement) for energy market reform that prioritises decarbonisation, security of supply, and cost-effectiveness. Respondents also agreed that the current...
Home supply and services
The predictions for the Default Tariff Cap in this piece are out of date, please click here to find our latest forecasts and commentary on the cap. Following the announcement by Ofgem that April’s Default Tariff Cap (price cap) will fall to an average £3,280 per year, nearly a £1,000 drop for...
Home supply and services
The predictions for the Default Tariff Cap in this piece are out of date, please click here to find our latest forecasts and commentary on the cap. We have released the final prediction for the April Default Tariff Cap (price cap) following the closure of the observation window1, on 17 February. We...
E-mobility and low carbon
Some of our team have looked back throughout 2022 and picked their most exciting ‘Chart of the Week’.Their choices include exploring green tariffs, wholesale gas prices, CfD allocation round 4 and the MHHS Implementation Levy. It’s My Birthday – Two years of Dynamic Containment Picked by Tom Faulkner, Head of...
Regulation and policy
As the government’s primary tools for mitigating high consumer energy bills are expected to end in April 2024, and with the Autumn Statement’s mention of a “new approach to consumer protection” many are discussing the future of the UK’s energy bill support mechanisms. Given the Statement’s express mention of “social...
