UK's Ofgem extends safeguards to 1 million more vulnerable homes for winter
It plans to extend this price protection to at least a further 2 million vulnerable householders for winter next year, once the timing of the UK government's price cap - announced by Prime Minister Theresa May last week - is confirmed.
Ofgem said that following the price cap announcement it will be working with the government to make sure "all those on standard variable and other default tariffs receive price protection as soon as possible if legislation is in place".
It will consult on the design of the safeguard tariff for default deals whilst the government draft bill progresses through Parliament.
Additionally, Ofgem set out new rules to allow suppliers to roll customers coming to the end of their contracts onto another fixed deal instead of a poor value standard variable tariff, saying suppliers "must step up efforts" to get more of their customers onto better value deals. ■