Briefing note on Ofgem’s proposals to amend the price cap in response to volatile wholesale markets

Briefing note on current price cap proposals - January 2022 [ 57 kb]

Ofgem has recently consulted on a range of proposals to reform the energy price cap, in response to the high and volatile prices recently seen in wholesale markets. Some of its proposals would only be temporary measures, while others would change the price cap permanently. This briefing note summarises our views on the most significant reforms it has proposed, explaining which we could support and why, and which we do not think should be taken forward.