V1471 – Energy Pricing Restrictions Bill 2019 Watch

Poll: Should this bill be passed into law?
As many as are of the opinion, aye (31)
62%
Of the contrary, no (16)
32%
Abstain (3)
6%
This discussion is closed.
Saracen's Fez
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#1
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V1471 – Energy Pricing Restrictions Bill 2019, TSR Government
A
BILL
TO

remove the price capping mechanism in regards to energy prices

BE IT ENACTED by the Queen's Most Excellent Majesty, by and with the advice and consent of the Commons in this present Parliament assembled, in accordance with the provisions of the Parliament Acts 1911 and 1949, and by the authority of the same, as follows:—

1(X)Definitions
(X) (1) ‘relevant authorities’ shall refer to the Office of Gas and Electricity Markets (“Ofgem”), the Gas and Electricity Markets Authority (“GEMA”) or any associated department or public body related to the regulation of the utility markets in the United Kingdom.
(X) (2) ‘price cap’ shall refer to the imposition of a price ceiling above which it is not permitted to provide goods or services on the domestic market.

2(X)General prohibition
(1) The relevant authorities may not impose a ‘price cap’ on energy prices by discretion or otherwise.
(2) In extremis, the Secretary of State retains the right to implement a temporary price capping mechanism not exceeding six consecutive months of applicable duration.

3(X)Citation and Commencement:
(1) This act extends to the whole of the United Kingdom.
(2) This act will come into force upon Royal Assent.
(3) This act may be cited as the Energy Pricing Restrictions Bill 2019.

Notes
The energy price cap was put in place under the facade of ‘consumer protection’; those for whom the cap actually applies see no material benefit from the cap, with it, in real terms, constraining the diversity and flexibility of the energy market as a whole.

Rather, we should seek to improve information symmetry throughout the utility market, supporting those who wish to switch supplier - rather than through direct market intervention
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CatusStarbright
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#2
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It's an aye from me.
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London090
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Aye from me.
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Saracen's Fez
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The Ayes to the right: 31
The Noes to the left: 16
Abstentions: 3

The Ayes have it! The Ayes have it! Unlock!

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