"London Evening Standard" declare : Theresa May pledges to save families £100 a year with price cap on energy bills

Theresa May has pledged to save families up to £100 a year with a cap on "rip off" energy bills if the Conservatives are returned to power in the General Election. Under the Tory plan, the cap would be set by the independent regulator for the energy market, Ofgem. The Tories were accused of stealing former Labour leader Ed Miliband's plans for an energy price freeze when the plan was first trailed last month. But in an article for The Sun, Mrs May said the energy market is not working and the Government needs to intervene. "Like millions of working families, I am fed up with rip off energy prices.


as mentioned in The Conservatives favour an absolute cap on standard variable tariffs, reset every six months by Ofgem. The Competitions and Markets Authority decided against a standard variable tariff price cap last year, preferring a series of "remedies" to encourage greater switching. It depends on whether you think people should be responsible for seeking out the best deals on the market. People who have not engaged with the energy market, and have ended up on standard variable tariff, will almost certainly be better off because of the Conservative cap. But the two-thirds – 14 million people – who are are sitting on the worst-value default deals, known as standard variable tariffs, will be paying about £200 more for the same energy.


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collected by :Jack Luxor