This petition was submitted during the 2019-2024 parliament
Rejected petition Take action to stop Ofgem increasing energy prices, and return to annual reviews
Address the framework by which Ofgem operate. The energy price cap is the backstop protection from the GOVERNMENT for consumers. Ofgem calculates the cap level. Help the inflation rate by instructing them the keep the price cap to a minimum. And return to annual review.
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Energy companies are now making vast profits. One, (EON) says customer debt is at £1.3bn. Their profits a staggering £3.4bn for Jan-Jun 2022. If price cap continues as planned, more consumers will fall into debt creating more poverty. Raising the price cap/cost of energy, creates higher inflation with the knock on effect, increased cost to companies = higher price for consumer. Reduce the increase, revert to annual review, reduce inflation. Do your job, advise Ofgem keep within the framework.
This petition was rejected
Why was this petition rejected?
It’s not clear what the petition is asking the UK Government or Parliament to do.
Petitions need to call on the Government or Parliament to take a specific action.
We're not sure exactly what you'd like the Government or Parliament to do. We're not sure what you mean by "Address the framework by which Ofgem operate." or how you'd like the price cap to change.
Decisions on changes to the price cap, including the timing of it, is an operational decision for Ofgem, however you might like to know that the price cap was previously set every 6 months. You can read more here
https://www.ofgem.gov.uk/publications/ofgem-confirms-changes-price-cap-methodology-and-frequency-ahead-new-rate-be-announced-later-month
You could start a new petition explaining clearly what you would like the Government or Parliament to do.
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