10/21/2021- 7:51 p.m.
UK Energy Chief DEMANDS Price Cap Reform – Warns “at Least 20” More Firms Will Go Bust
Scottish Power CEO Keith Andersen wants the consumer tariff cap to be reviewed at least FOUR times a year to protect UK energy providers after 15 went bust this year, and warned 20 more will likely follow.
Andersen claims the cap, designed to protect consumers from “rip-off” tariffs, should be “much much more reflective of what’s going on in the marketplace”.
The consumer price cap was only recently raised 12% by energy regulator Ofgem, which only reviewed price changes up to August, but economists warn a further 30% rise is due in April.
