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Price cap could 'lull people into a false sense of security'

September 9, 2018 12:30 PM

Ed Davey (Chris McAndrew [CC BY 3.0 (http://creativecommons.org/licenses/by/3.0)], via Wikimedia Commons)Commenting on the Ofgem's proposed price cap, former Liberal Democrat Secretary of State for Energy Ed Davey said "As predicted the proposed price cap is underwhelming. People who have never switched will save just £75 a year, a far cry from the £300 they could save by switching to a new provider. We need to make sure that this price cap doesn't lull people into a false sense of security - Ofgem capping prices doesn't mean they're capped at a good rate."