At the time, then prime minister David Cameron denounced the plan and accused Mr Miliband of wanting to live in a "Marxist universe". Responding to a BBC interview with Mr Clark, Mr Miliband wrote on Twitter: "As far as I can tell, no guarantee that energy prices won't rise next year under Tory policy. :: Has Mr Miliband had anything to say about Mrs May's announcement? Theresa May's pledge to cap "rip off" gas and electricity prices if the Conservatives return to power has immediately prompted debate about whether or not it would actually result in lower bills for consumers. Under the Tory plan, the cap would be set by the independent regulator for the energy market, Ofgem, and would allow tariffs to be cut when the wholesale price of energy fell.
referring to Neil Wilson, senior market analyst at ETX Capital said recent 10% price rises by energy companies who thought a general election was still three years away had backfired. Chief executive Dermot Nolan said that when wholesale prices started falling in 2014, many energy companies claimed they could not immediately pass on the savings to customers as they had hedging strategies. The industry's lobby group, Energy UK, said further state intervention would undermine changes the industry is making. New market entrant Ovo said the proposed cap "will not harm consumers or competition, but act as a catalyst for innovation and efficiency amongst suppliers". Prime Minister Theresa May confirmed the pledge on Tuesday ahead of publication of her ruling her party's manifesto next week.
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collected by :Jack Luxor
referring to Neil Wilson, senior market analyst at ETX Capital said recent 10% price rises by energy companies who thought a general election was still three years away had backfired. Chief executive Dermot Nolan said that when wholesale prices started falling in 2014, many energy companies claimed they could not immediately pass on the savings to customers as they had hedging strategies. The industry's lobby group, Energy UK, said further state intervention would undermine changes the industry is making. New market entrant Ovo said the proposed cap "will not harm consumers or competition, but act as a catalyst for innovation and efficiency amongst suppliers". Prime Minister Theresa May confirmed the pledge on Tuesday ahead of publication of her ruling her party's manifesto next week.
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May's energy price cap will hit savvy switchers
Prime Minister's populist pledge to cap energy bills will be bad news for those who seek out the cheapest deals. Prime Minister Theresa May has vowed to slash "rip-off" energy bills by putting a price cap on standard tariffs. However, the purpose of this article isn't to convince you one way or another whether a price cap is a good idea. As we mentioned right at the start, we don't really know how this price cap will work. Likewise, there are fears that a price cap will reduce competition and investment into the sector overall.read more visit us Energy markets
collected by :Jack Luxor
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