A PYMNTS Company

UK: Competition watchdog ‘to set cap for low-income household energy costs’

By  |  March 13, 2016

Millions of vulnerable households could see their gas and electricity bills slashed under plans expected to be unveiled on Thursday in a long-awaited report into Britain’s energy sector.

The Competition and Markets Authority will publish its “provisional decision on remedies” after a two-year investigation amid reports that it is likely to set a price cap for low income and vulnerable customers who have pre-payment meters – around 16% of households.

But it is set to scrap plans first mooted last July to set a maximum price limit for standard variable rate tariffs, which would have seen prices cut or frozen for around 70% of customers with the Big Six providers.

Full content: The Guardian

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.