This caps the amount that energy companies can charge customers for their services. Theresa May clarified that this manifesto promise was a promise to provide a general cap for the 17 million families that were on Standard Variable Tariffs. The promise is only fulfilled when this general cap is introduced.
Greg Clark, Secretary of State for Business, Energy and Industrial Strategy, revealed in a debate on the Energy Price Cap that the government and OfGem are enforcing a safeguard tarriff that was only temporarily introduced in April 2017. This was confirmed by an OfGem announcemnt in August 2017 for some 2.5 million households but was not a general cap. In October 2017, Theresa May announced a draft bill to implement a general cap on energy prices in line with the full manifesto commitment.
Category: Energy and Environment
Source: Manifesto - Page 60
Reference 1: Energy Price Cap debate
Reference 2: Theresa May Conference Speech