As part of our campaign for warm homes this year, we asked you to let the Competition and Markets Authority (CMA) know that you support the price cap on standard variable tariffs – and you did!
The CMA is proposing a transitional price cap on standard variable tariffs because millions of energy customers have been ‘paying too much for their energy bills’.
Age UK supports a transitional price cap because it would offer older people a measure of protection against high energy bills until other measures have led to a more competitive market.
Thanks for your support
Just over 3500 of you sent an email to the CMA, which prompted the CMA to get in touch with us just one day after we launched the e-action. This is a fantastic result.
We’ve submitted our formal response to the CMA’s proposals and the CMA is reviewing all of the responses received. The Government has announced that it is also ‘looking into the CMA’s proposed solution of a safeguarding tariff which has the potential to protect those consumers who do not, or cannot switch’.
The CMA will publish its final report and recommendations in November or December this year. We hope will these will include a transitional price cap on standard variable tariffs and we will keep you updated on any developments.