Ofgem extends safeguard tariff

[ALEO Admin]

On 2 February 2018, Ofgem extended its safeguard tariff to almost one million vulnerable customers, with over five million households now protected.

The safeguard tariff was introduced by Ofgem in April 2017 for over four million prepayment customers, and will now be extended to cover a million more customers who receive the Warm Home Discount and are on poor value standard variable tariffs. These customers are typically pensioners and on low incomes.

Ofgem says that these customers will initially make annualised savings of around £115 on average because suppliers have to cut their prices to below the level of the safeguard tariff cap. These savings will fall to around £66 a year from April when the level of the safeguard tariff rises due to higher energy costs.

To read more, visit:
https://www.ofgem.gov.uk/publications-a ... olds-bills

https://www.ofgem.gov.uk/news-blog/our- ... -customers