Price Cap - Programme of Work: Update
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- Price cap - Programme of Work
Since we introduced the cap in 2019, we have continued to monitor the cap methodology and made changes as appropriate. The ‘Price cap - Programme of Work’ (PoW), originally published in November 2022, provided visibility of the areas of the cap methodology we intended to review.
In this letter, we present our updated PoW, which sets out a list of price cap workstreams we intend to prioritise over the next two to three years. This follows key prioritisation decisions we have taken, in light of stakeholder feedback, the current cap methodology, market conditions and organisational objectives.
The PoW is subject to further change to ensure we remain flexible and responsive to future challenges in the market and changes in Ofgem’s priorities.