Ofgem and Centrica questioned on energy price cap
17 October 2017
The Business, Energy and Industrial Strategy Committee questions major energy companies about the different energy price cap proposals and their implications for customers, energy prices and competition.
- Watch Parliament TV: Energy Price Cap
- Inquiry: Energy price cap
- Business, Energy and Industrial Strategy Committee
Safeguard tariff and price cap bill
The Committee questions Ofgem and Centrica, OVO Energy, and Professor Catherine Waddams, Professor of Economic Regulation, Norwich Business School.
The session follows Ofgem's announcement about a safeguard tariff and the Government's draft price cap Bill.
'The energy market isn't working'
Rachel Reeves MP, Chair of the Business, Energy and Industrial Strategy Committee, said:
"The energy market isn't working. Millions of customers are stuck paying far too much for their gas and electricity with many facing exorbitant bills.
Vulnerable consumers face specific challenges when it comes to switching tariffs and finding cheaper options. Will Ofgem's safeguard tariff be the right solution for them? Will energy suppliers push up prices before the Government introduces its price cap?
As a Committee, we want to probe energy companies and the regulator about these proposals and ensure that the reality of a price cap can match the rhetoric by delivering lower bills for consumers and fixing the broken energy market".
Tuesday 17 October 2017, Committee Room 6
At 10.00 am
- Sarwjit Sambhi, Managing Director UK Home, Centrica
- Stephen Fitzpatrick, Chief Executive, OVO Energy
- Professor Catherine Waddams, Professor of Economic Regulation, Norwich Business School
At 10.45 am