Energy price cap, PPI, pensions and Brexit

Millions of pre-pay energy customers will be protected by an interim price cap from next April, Ofgem announced this morning.

The cap will save ‘vulnerable’ households using pre-pay energy meters about £75 a year, the regulator said. Ofgem said it would also work with suppliers to help ‘disengaged’ customers on ‘expensive standard variable tariffs’ to shop around more. But one energy company boss said the proposals did not go far enough. The managing director of First Utility, Ed Kamm, said: ‘Ofgem itself admits that consumers who are already engaged in the market will see the first benefits. We are in real danger of continuing to fuel a ‘tale of two markets’ – helping those who already shop around and doing little to properly help those who are continuing to pay much more than they need to or should. Talking to the Today programme, Ofgem chief executive Dermot Nolan said that the regulator has decided not to cap standard variable energy tariffs. He