UK targets 'rip-off' energy prices with temporary price caps

Today, Monday, Theresa May plans to present legislation to the UK parliament to implement a cap on energy bills for customers of the country's largest utilities. Opposition party Labour also supports a price cap.

Theresa May will introduce legislation to Parliament on Monday to cap prices charged to consumers by the UK's biggest utilities, following through on a pledge the prime minister made in last year's general election.  

The new "temporary" measure will require the energy regulator, Ofgem, to cap power and gas prices until 2020, the Department for Business, Energy and Industrial Strategy said in an emailed statement. The measure will protect 11 million households currently on the highest energy tariffs, as well as 5 million homes already protected by Ofgem.

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