Page 9 - Gi flipbook - October 2018

Energy price cap to save

households £75 a year, says Ofgem Xxxxxxxxxx

Dermot
AN ENERGY PRICE cap gas and electricity and how breathed a sigh of relief Nolan,
proposed by Ofgem is they pay for it. as the industry watchdog Ofgem
expected to save UK A typical consumer on finally ended the
households around £75 a the most expensive tariff uncertainty over a long-
year on average. is expected to save more awaited cap on rip-off gas consumers on poor value
Around 11 million than £120 a year – the and electricity tariffs. default tariffs.
households on poor value price cap in total would Shares in the two UK- “Once the price cap is
default deals are to see save consumers around £1 listed members of the in place, all households in
the savings, with the cap at billion, according to Ofgem. industry’s Big Six, Centrica Great Britain covered by
£1,136 per year for a typical It will update the level of and SSE, rallied after the cap will be protected
dual fuel customer paying the cap in April and October Ofgem revealed the cap, from being overcharged for
by direct debit, reports every year to reflect the which was marginally higher their energy. Consumers
Energy Live News. latest estimated costs of than some had expected. can have confidence that
The regulator says supplying electricity and gas. Dermot Nolan, Chief falls in energy costs will be
the exact savings each The price cap will be Executive of Ofgem, said: passed on to them and if
individual household would confirmed in November, “Ofgem has made full use costs increase, Ofgem will
make will depend on the come into effect in of the powers Parliament ensure that any rise will be
price of their current deal, December and stay in place has given us to propose due to genuine increases
how much energy they use, until 2023 at the latest. a tough price cap which in energy costs rather than
whether they have both Energy companies will give a fairer deal to supplier profiteering.” ■

May’s £106m drive to push green vehicles

NEW FUNDING OF more The £106 million funding plan globally – mapping out drastically reduce a major
than £100 million to boost will also cover in detail how we will reach contributor to our global
develop low and zero- research and development our target for all new cars warming emissions.”
emission vehicles in the for new battery and and vans to be effectively Mrs May was also
UK has been announced by hydrogen technology, zero-emission by 2040. holding roundtable talks
Theresa May. reports the BBC. “These measures will on developing the zero-
The Prime Minister told Mrs May said the drive the design, use, emissions market and
the Zero Emission Vehicle government had an uptake and infrastructure attracting more foreign
Summit in Birmingham that “ambitious mission”, adding: necessary for cleaner, investment to the UK at
she wanted Britain to be a “Our Road to Zero Strategy greener vehicles – and in the summit.
leader in green technology. is the most comprehensive doing so, it will help us The talks involve supply
chain companies from
Germany, the US, Japan,
China, Spain and India.
The government also
launched an international
initiative aimed at speeding
up the deployment of green
vehicles and introduction of
zero-emission infrastructure.
The first signatories to
the so-called ‘Birmingham
deceleration’ include Italy,
France, Denmark, the UAE,
Portugal, Belarus and
Indonesia.
The summit was also
attended by International
Trade Secretary Liam Fox,
The government wants all new cars and Transport Secretary Chris
vans to be zero-emission by 2040 Grayling and Business
Secretary Greg Clark. ■

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News.indd 4 20/09/2018 12:15