| I might be being naive here 13:37 - Feb 3 with 732 views | The_Flashing_Smile |
But what's the point of a price cap if you can move it? |  |
| Trust the process. Trust Phil. |
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| I might be being naive here on 13:41 - Feb 3 with 707 views | mutters |
The price cap is reassessed every 6 months to reflect the current trend in wholesale prices |  |
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| I might be being naive here on 13:42 - Feb 3 with 707 views | Steve_M |
Well, quite. It was a flawed policy when Milliband proposed it and it was a flawed policy when implemented. A price cap on retail costs is meaningless when wholesale costs are uncontrolled and at the mercy of global forces.
The UK doesn't do policy any more, it much prefers press releases. As Sunak has demonstrated again today. |  |
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| I might be being naive here on 13:43 - Feb 3 with 682 views | Durovigutum |
The theory of the cap, a Milliband idea decried by the Tory press as "socialist", is to prevent the most vulnerable being rinsed by utility companies. As per minimum wage what it has done is set the price everyone charges, however the market situation is slightly unique as most suppliers are losing money with every unit they sell.
This is why it's changed, gas costs 6p per unit but the cap is currently 3.2p (ish). |  | | |
| I might be being naive here on 13:44 - Feb 3 with 666 views | homer_123 |
| I might be being naive here on 13:41 - Feb 3 by mutters |
The price cap is reassessed every 6 months to reflect the current trend in wholesale prices |
So....not a price cap then. |  |
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| I might be being naive here on 13:48 - Feb 3 with 633 views | mutters |
| I might be being naive here on 13:44 - Feb 3 by homer_123 |
So....not a price cap then. |
Yes but the cap is reviewed every 6 months. Maybe a better way if saying is that it's the maximum that can be charged per unit for 6 months
If there was no cap then those on variable rates would be already paying a shed load more than they are now. | |
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| I might be being naive here on 13:58 - Feb 3 with 586 views | The_Flashing_Smile |
| I might be being naive here on 13:44 - Feb 3 by homer_123 |
So....not a price cap then. |
It's less of a cap and more of a flap. | |
| Trust the process. Trust Phil. |
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| I might be being naive here on 14:35 - Feb 3 with 529 views | Parsley |
| I might be being naive here on 13:44 - Feb 3 by homer_123 |
So....not a price cap then. |
Think it's reasonable to adjust the cap now and then with inflation and stuff, a 50% increase does feel like what's the point |  | | |
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| I might be being naive here on 14:57 - Feb 3 with 484 views | Pinewoodblue |
| I might be being naive here on 13:41 - Feb 3 by mutters |
The price cap is reassessed every 6 months to reflect the current trend in wholesale prices |
It will soon be able to be changed more frequently by OFGEM. |  |
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