UK Regulator to Update Energy Price Cap Quarterly
16 Maggio 2022 - 9:56AM
Dow Jones News
By Jaime Llinares Taboada
U.K. regulator Ofgem said Monday that it intends to review the
price cap on energy prices on a quarterly basis rather than every
six months.
The energy watchdog said it will publish a minded-to
consultation to change the price cap methodology. The changes would
be implemented from October.
Ofgem said a more frequent price cap would better reflect
wholesale energy prices and mean that customers would see benefits
much sooner when prices fall from current record highs.
In addition, the change is also meant to help energy retailers
predict how much energy they need to purchase, reducing the risk of
bankruptcies.
"The last year has shown that we need to make changes to the
price cap so that suppliers are better able to manage risks in
these unprecedented market conditions," Ofgem Chief Executive
Jonathan Brearley said.
Write to Jaime Llinares Taboada at jaime.llinares@wsj.com;
@JaimeLlinaresT
(END) Dow Jones Newswires
May 16, 2022 03:41 ET (07:41 GMT)
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