The Centre for Policy Studies claims that the energy price cap and other retail market interventions are now doing more harm than good. By preventing customers from accessing lower energy tariffs it is having an adverse effect by driving inflation and should be abolished. Jonathan Brearley, the CEO of Ofgem, is urging the UK government to reconsider the effectiveness of the energy price cap for a “more rigorous framework” to better support households, including a social energy tariff. Mark Sait, energy expert and CEO/founder of SaveMoneyCutCarbon, the leading sustainability consultancy, is available to comment on how the price cap could be a significant hindrance to making sustainable investments to improve energy efficiency and reduce carbon footprints.

Mark Sait, CEO of SaveMoneyCutCarbon comments on how Britain can reassess its strategies to democratise energy affordability:

“The EPC will run until next April and it’s unlikely that anything will change before then. But price limits can distort the market and a return to a competitive environment might help both business and domestic consumers. As we witness record-high wholesale market prices and the rising number of households pushed into fuel poverty, it’s evident that a more dynamic framework is required. The energy crisis has exposed the shortcomings of the current system, underscoring the importance of reassessing our strategies.

“The idea of a social energy tariff, one that is below the cost of supplying energy, is a step in the right direction. This approach can help alleviate the burden on those facing fuel poverty while fostering a competitive energy market. However, the best way that both businesses and households can gain some control of their energy bills is by adopting smart ways to consume less. Reducing your energy use in an efficient and sustainable way is far better than the constant scramble for a better deal on the bill-switching merry-go-round.

“Businesses can use our app combined with our learning platform, EcoWise, to their staff and provide an engaging, useful and entertaining way to learn more about being sustainable, while greatly strengthening the social element of their Environmental, Social & Governance (ESG) policies.

“Companies also want advice and proof points on what holistic solutions will lead to demand reduction in energy and waste and which strengthen their ESG policies at the same time.”