Price Cap Changes
Price Cap Changes Must Benefit Consumers
CAS has responded to Ofgem's proposal on moving the energy price cap period to quarterly as opposed to twice a year.
CAS Social Justice spokesperson Stephanie Millar said,
“The cost of living crisis is squeezing household budgets to breaking point across the country, so while it is positive to see Ofgem consider action that could help, any proposals need to be thought through clearly and put consumer interest first.
“While we could understand the benefit of more up to date prices being reflected in the cap, and potentially fewer of the extreme increases we have seen in the last year, the potential of the cap increasing in the winter will be worrying for people struggling already, and could make it more challenging for people to budget if prices are changing more regularly.
“If people are worried about their financial situation they should seek advice from the CAB network, whether that’s from a local Citizens Advice Bureau or our online resources like our public advice site or www.MoneyMap.scot. Our advice is free, impartial and confidential and last year we unlocked £147million for people through things like social security payments and employment entitlements. The average value of those gains was over £4,400 so our advice can make a real difference for some people. We don’t judge, we just help.”