Ofgem raises energy cap
Money Box
BBC
4.2 • 825 Ratings
🗓️ 9 February 2019
⏱️ 26 minutes
🧾️ Download transcript
Summary
From April millions of households on default energy tariffs and who have not switched suppliers will see a rise in their bills after regulator Ofgem raised caps for gas and electricity. The first cap was introduced in January as a measure to ensure customers paid fairer prices. Guest Jo Butlin, Chief Executive of EnergyBridge Consulting and an expert in how the energy industry works in the UK.
This week the Housing, Communities and Local Government Select Committee held its final evidence session on leasehold reform. Founder and Chief Executive of the HomeOwners Alliance Paula Higgins debates the issues with David O'Leary, Policy Director with the Home Builders Federation.
What happens to state and private pensions post-Brexit? James Walsh, from the Pensions and Lifetime Savings Association, where he focuses on the EU, guides us through what's certain and what's uncertain.
There are now more mortgage products than ever before for older borrowers, what’s attracting lenders to them? Guest: Darren Cook, Mortgage Analytics Manager at moneyfacts.co.uk
Presenter: Paul Lewis Producer: Charmaine Cozier Editor: Richard Vadon
Transcript
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| 0:44.5 | Hello, in today's program, energy bills are capped, |
| 0:47.3 | but they will go up by 10% in April. |
| 0:51.6 | Has the cap been blown away by the wind of rising gas prices? |
| 0:55.8 | Home builders and homeowners slug it out over the rights and wrongs of leasehold. Nearly half a million UK pensioners live in other EU countries. What will happen to |
| 1:00.8 | their pensions when we leave? And why is it now so easy for people well past retirement age |
| 1:06.2 | to get a mortgage? But first, energy prices paid by 15 million households will rise by around |
| 1:12.4 | 10% in April, despite a cap which began in January that was supposed to control them. The cap |
| 1:18.6 | was promised by the Prime Minister in her speech to the Conservative Party conference in October |
| 1:23.2 | 2017. This government will publish a draft bill to put a price cap on energy bills, meeting our |
| 1:31.2 | manifesto promise, and bring an end to rip off energy prices once and for all. Well, applause then. |
| 1:40.4 | When the cap began in January this year, the regulator Of, said it would save the typical user £76 a year. |
| 1:47.4 | But the latest announcement this week means that the cap will rise by far more than that, £117 a year. |
| 1:54.6 | Though confusingly, Offgem says the new cap will still be far less than they would have paid without it. |
| 2:00.0 | The people affected are 11 million on the standard tariff |
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