Ofgem considers changes to the energy price cap based on time of day

Ofgem price cap sets a limit on the unit price of gas and electricity, as well as standing charges. Standing charges are fixed daily amounts you have to pay to be connected to the power network. Ofgem also limits the amount you pay for standing charges to be on the network.

Regulator for Great Britain launches consultation on options including ‘dynamic’ pricing. Ofgem considers varying cost based on time of day. Energy price cap could be imposed on energy bills in the UK by 2015. Regulator is considering a range of options including 'dynamic' pricing.

Regulator Ofgem is looking at plans to shake up the energy price cap. The cap currently sets energy bills paid by more than 90% of the population. It currently sets the energy bill paid by over 90 per cent of the UK's population. Ofgem said it is considering big changes to the price cap in the coming weeks.

Ofgem to consider 'dynamic' price cap based on time of day you use energy. Ofgem wants to hear from billpayers as well as charities, consumer groups, businesses, and suppliers about their proposals and views on the future of the price cap. The move is expected to be announced in March.