Government response: Government response to updated energy price cap level

“As Ofgem has said, these increases reflect the sharp rise in gas and electricity costs. The cap is designed to ensure energy companies offer good value to their customers and continue to thrive as an efficient business.

“We were clear when we introduced the cap that prices can go up but also down. The key thing is that as a result of the cap, 11 million households on standard variable tariffs will be £75 to £100 better off and energy suppliers will no longer be able to rip off customers on poor value tariffs.”

“With over 60 companies and more than 200 tariffs to choose from, consumers can always shop around for a cheaper deal and make big savings by switching.”