EPG

In our weekly issue of Current± Price Watch – powered by Enact – we take a look at Britain’s interconnector plans, the approach of the end of the ESO’s Winter Enhanced Actions options, and passing on the drop in wholesale prices to consumers.

The energy sector has criticised the lack of focus within the Spring Budget on the development of renewables, energy efficiency and infrastructure, despite some technology support.  

Following the early announcement of the extension of the Energy Price Guarantee (EPG) at the current rate of £,2500 for three months, there were only a few key energy focused elements to the Spring Budget.

The Energy Price Guarantee (EPG) will be kept at its current rate for an additional three months, fixing prices at £2,500 till the end of June.

During his speech at Chatham House Energy Transitions conference in London today (1 March), the Energy Security Secretary, Grant Shapps, is expected to demand that suppliers pass on lower wholesale price benefits to consumers - “no ifs, buts or maybes.”

​The drop in wholesale power prices has meant that the Default Tariff Price Cap is now projected to fall below the Energy Price Guarantee (EPG) from July (Q3 2022).