October 12, 2017 / 10:52 AM / a year ago

Britain asks Ofgem to devise consumer energy price cap plan

LONDON, Oct 12 (Reuters) - Britain said on Thursday it would ask the regulator Ofgem to devise a price cap for consumer energy tariffs, but did not provide any specific details on how the cap would work for suppliers trying to gauge the impact on their business.

The business department set out its draft legislation, saying the price cap would initially last until 2020, with the potential to be extended by up to three years if needed. But, it gave no details on how the cap would be set. (Reporting by Kate Holton; editing by William James)

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