Following on from our Rooftops article about SSE’s 14.9% electricity price increase - and increases from other energy suppliers - it should be clarified that from 1 April 2017 all suppliers, including SSE, have been asked to cap prices for pre-payment meter customers.
This move is to comply with new regulations from electricity regulator Ofgem following the recent Competition and Markets Authority (CMA) energy market investigation. The CMA found that competition is ‘working well’ in the energy market but some customers, including those on pre-payment meters, are less likely to engage with the energy market to access the best deal for them.
The price cap will be reviewed every six months until the end of 2020, so that the price remains up-to-date with market changes.
If this will affect you, your supplier will get in touch to let you know what it means and explain the options available to you. These changes only apply to you if you are on a prepayment meter and not on a standard credit meter.
You do not need to do anything to your meter to reflect the new prices. When you next insert your device (key or card) into your meter after topping up on or after each effective date, the settings will update automatically, loading the new price on to the meter.
If you have any questions about the price cap you should contact your electricity supplier. Robert Leslie, OHAL Energy Officer, can also be contacted on 875253 ext 404 for any issues that cannot be dealt with by your supplier.