Trumpeting its price cap, Ofgem declared proudly that it would “give 11 million a fairer deal from 1 January”. And indeed, it will come into force in the new year, now that an industry consultation has closed.
For the record, it’s a tad higher than had previously been proposed. Standard variable energy tariffs (SVTs) have risen by even more, however, so the savings when it comes into force will be greater than had been expected.
SVTs might have increased because of rising wholesale energy prices. But it might also be because the big suppliers have decided to have one last party before the hammer comes down.
Join our new commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies