The Prime Minister, Theresa May, has said that a plan for an energy cap will be implemented, delivering price caps for an extra 12 million customers.
The speech was delivered in the Prime Minister’s speech at the Conservative Party conference.
“The energy market punishes loyalty with higher prices, and the most loyal customers are often those with lower incomes, the elderly, people with lower qualifications and people who rent their homes,” she said.
A spokesperson for Ofgem said: “We share the government’s concern that the market is not working for all consumers, especially the vulnerable, and will work with the government on their plans announced today to better protect consumers on poor value deals”.
This move from the Prime Minister follows a letter signed by 192 MPs asking her to implement the price caps.
Energy bills in the UK have risen significantly recently with the pressure of “green subsidies” being blamed by energy bosses.