It's thought that the cap's prolonged effect on tariff pricing has effectively stifled market competition, preventing consumers from switching to better energy deals
ENERGY CRISIS: Experts believe the price cap has gone ‘far beyond’ its original purpose of providing protection for customers
CPS energy and environment researcher Dillon Smith said:"For almost two years, nearly all tariffs have been priced at or just below the capped level, with no evidence this will change in the near future - meaning the Government is effectively setting the market price for energy and eliminating any chance of customers switching to a better deal.
Craig Lowrey, principal consultant at analysts Cornwall Insight, said: “It becomes crucial to explore alternative measures that can better protect consumers, promote fair competition, and ensure affordable and transparent energy pricing for all. The exploration of options such as social tariffs, energy efficiency initiatives, and various other avenues should be prioritised.
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