Energy price cap plans have been scrapped
Plans to consider introducing an energy price cap have apparently been scrapped by the Government, after there was no mention of the plans in the Queen’s speech to Parliament.
We reported last month that there was much scepticism about whether an energy price cap would work: most energy industry analysts agreed that the idea was poorly thought-through and would actually lead to prices going up.
Well, fortunately, the idea appears to have been shelved altogether as it didn’t warrant a single mention by her majesty this week.
What did feature in the Queen’s speech was smart meters. The planned nationwide rollout has stalled, with thousands of homes and businesses yet to receive their smart meters.
The rollout is still to take place, but with an extended deadline – now the end of 2020. The national smart meter infrastructure will also be backed by an insurance scheme, which guarantees the future of smart meters in the event that the provider becomes insolvent.
As always, the message is the same: if you want to take control of your business’ energy use and your energy bills, don’t wait for a free smart meter or for help from the Government. Get in touch with Northern Gas and Power today and we can help you start saving money straight away.