Ofgem has launched a review into the future of the energy price cap in a bid to ensure it continues to protect consumers in the net zero age.
The energy regulator said the move towards renewable energy sources, use of electric vehicles, and the proliferation of tariffs offering cheaper rates at different times of the day, means a universal safety net may no longer be effective. It said it could mean the price cap morphs into a more targeted measure, or that it could move to cap energy suppliers’ profit margins.
