NEW REPORT SAYS CONSUMERS AND BUSINESSERS PAYING TOO MUCH FOR THEIR ENERGY
UK businesses and consumers are paying too much for their energy – and more than necessary to help the environment – an independent report has concluded.
Professor Dieter Helm, from Oxford University, was asked by the government to examine how to reduce energy costs while achieving climate change targets.
He concluded that energy-users should have benefited more from falling costs and technical efficiencies. And he said there should be a default tariff to replace variable tariffs.
That new tariff would effectively cap the profits made by energy companies, although prices themselves would not be controlled.
It comes two weeks after the government published a draft bill to cap charges for 12 million customers on standard variable tariffs (SVTs).