BBC News | Lower energy price cap may not last

BBC News featured Robert Buckley’s comments on Ofgem lowering the price cap. However, research from Cornwall Insight that it may be short-lived.

If wholesale costs of gas and electricity remain at their current lows, the price cap is set to increase by £30 for summer next year. As other costs, like fees to use the network and government levies, to increase by over a third during the winter.

Despite the downward movement to the default price cap today, early forecasts for summer 2020 show it increasing once again unless wholesale prices fall sharply over winter.

Robert Buckley, Head of Retail and Relationship

BBC News