These Regulations amend the Taxation of Securitisation Companies Regulations 2006.
Link: The Taxation of Securitisation Companies (Amendment) Regulations 2018
Source: Legislation .gov.uk
These Regulations amend the Taxation of Securitisation Companies Regulations 2006.
Link: The Taxation of Securitisation Companies (Amendment) Regulations 2018
Source: Legislation .gov.uk
Minister Burt said:
The UK strongly condemns the Israeli government’s decision to establish a second new settlement deep in the West Bank in less than a year. These plans could involve the retroactive ‘legalisation’ of the outpost of Havat Gilad.
Settlements are illegal under international law and undermine the physical viability of the two-state solution. We call on both parties to refrain from actions which make peace more difficult.
For journalists
Email
newsdesk@fco.gov.uk
Newsdesk
020 7008 3100
Link: Press release: Planned Israeli settlement: statement by Minister for Middle East
Source: Gov Press Releases
UK Export Finance (UKEF) has made three appointments to its senior management to enhance its capability and capacity to realise the ambitions set out in its Business Plan for 2017-20.
They will help UKEF implement its strategy to lead with finance, bring major international business opportunities to the UK and help UK companies better compete for business around the world.
Additional recruitment into senior roles across UKEF’s policy and operations divisions to build the department’s capacity and expertise further is planned for the coming months.
Louis Taylor, UKEF’s Chief Executive Officer, welcomed Richard, Adam and Andy to their roles, saying:
I am very pleased to announce these appointments into key positions as we look to deliver world-leading finance to help the UK’s world-leading exporters grow their business internationally.
Richard, Adam and Andy will bring the expertise, creativity and ambition required to help UKEF realise its aim to be the best export credit agency in the world.
Richard will focus on seeking and securing global opportunities for UK exporters:
Richard commented:
In the last year, UKEF has enhanced its reputation as a world-leading export credit agency, from extending short-term finance to the UK supply chain, to expanding our overseas buyer finance to 62 local currencies. We are better placed than ever before to support UK exports.
I want to ensure UK exporters and their buyers can realise the full benefits of that, and am excited to be leading UKEF’s international drive to bring these major opportunities to the UK.
Adam will manage and develop UKEF’s growing team of 30 specialist underwriters, responsible for delivering and enhancing UKEF’s support for the civil, infrastructure and energy sectors.
Adam commented:
I am delighted to be leading UKEF’s civil, infrastructure and energy underwriting division at an exciting time for UK exports and international trade.
By working closely with our customers and their overseas buyers, and growing our capacity to do ever more business in these vital sectors in which the UK is a recognised leader, we can help UK businesses thrive internationally.
Andy will focus on the development and delivery of products that UK exporters need to support them in making the most of trading internationally, with greater pace, efficiency and capacity.
Andy commented:
UKEF’s offering must remain agile and adaptable, so I am excited to be able to take this role to ensure our product range continues to evolve in a way that is both evidence-based and, crucially, puts the needs of UK exporters first.
Richard has over 25 years’ experience in structured financing, heading up energy and infrastructure units at leading project and export institutions.
In 2016, he became UKEF’s Head of Civil, Infrastructure and Energy and led the division through a period of significant growth, as well as pioneering an innovative new ‘supplier fair’ model which has connected hundreds of UK companies with opportunities worth hundreds of millions on major international projects.
Adam began his career in the Civil Service Fast Stream, gaining experience in a range of positions, including credit risk analysis at UKEF, as well as policy at HM Treasury and HM Revenue and Customs. He spent over five years in UKEF’s aerospace underwriting division, before becoming Chief of Staff to Louis Taylor, UKEF Chief Executive, in 2016.
Andy has over 15 years’ experience at UKEF, spanning roles as a country policy officer for sub-Saharan Africa and an underwriter in UKEF’s civil, aerospace and defence sector teams, as well as managing the department’s transition through landmark changes to its governing statute in 2015.
Email
julia.beck@ukexportfinance.gov.uk
Telephone
+44 (0)7791 797810
Link: Press release: UKEF makes senior appointments to support UK’s export ambitions
Source: Gov Press Releases
The Secretary of State for Business, Energy, & Industrial Strategy has accepted disqualification undertakings from the five directors of McCaskill & Morse Ltd (McCaskill). Timothy Chapple has been disqualified for eight years, Richard Adams for six, Catherine Wood for five, Gary Richards for five and James Bell for four years.
The five directors are now prevented from acting as a director of a company, they cannot take part, directly or indirectly, in the promotion, formation or management of a company or limited liability partnership, as well as being unable to be a receiver of a company’s property.
McCaskill was first incorporated in March 2012, offering claims management services for people miss-sold payment protection insurance and bank charges reclaims.
But clients started to complain to the Ministry of Justice, the regulators of the claims management sector, that while McCaskill claimed to offer a no-win-no-fee service, they had failed to return upfront fees and were often late paying refunds following unsuccessful claims.
The Ministry of Justice issued a warning to McCaskill that they were engaging in unfair trading practices before the company was put into administration in November 2015.
The Insolvency Service investigated McCaskill after it had gone into administration and found that the claims management company had failed to repay upfront fees to clients who were due a refund.
Using complaints data, the Insolvency Service also found that clients received their refunds between 180 and 380 days after the start of the claims process, exceeding the contract terms that stated McCaskill would pay refunds within 90 days.
Further investigations showed that, during their directorships, Mr Bell and Mr Richards failed to properly deal with complaints, prevent delays on refunds and return upfront fees to clients. McCaskill also failed to inform the Ministry of Justice about changes to its business model, including the charging of up-front fees which they had previously declared it did not intend to charge.
Investigators concluded that McCaskill had been engaging in unfair trading practices in breach of the Conduct of Authorised Persons Rules 2006 and 2013 (COAPRs). This meant that they had failed to comply with the Compensation (Claims Management Services) Regulations 2006.
Following the disqualification orders, Robert Clarke, Investigations Group Leader at the Insolvency Service said:
Compensation regulations are there to protect the general public from unfair sales techniques by companies operating within the claims management sector.
It’s ironic that McCaskill, a company established to support consumers claw back money owed to them, consistently failed to return what was rightfully owed to their clients.
The length of the bans should serve as a warning to other directors who may feel tempted to breach legislation intended to protect the public, that the Insolvency Service will seek lengthy periods of disqualification.
He added: “I would also like to thank my colleagues at the Ministry of Justice and the Legal Ombudsman for their hard work and co-operation in achieving this outcome.
McCaskill & Morse Ltd (Company Registration No. 08002835) was placed into administration on 11 November 2015 with a deficiency as regards creditors of £93,700. The company which was incorporated on 2 March 2012, traded in claims management, offering claims management services including mis-sold payment protection insurance and bank charges reclaims. McCaskill traded from Suite 1, 4th Floor, Alexandra House, Alexandra Road, Swansea, SA1 5ED.
Mr Chapple, of Tackley, Kiddlington, date of birth December 1976, has been disqualified for eight years commencing 22 December 2017.
Mr Adams, of Swansea, date of birth August 1977, has been disqualified for six years commencing 23 January 2018.
Mrs Wood, of Swansea, date of birth January 1980, has been disqualified for five years commencing 24 October 2017.
Mr Richards, of Swansea, date of birth July 1974, has been disqualified for five years commencing 19 October 2017.
Mr Bell, of Swansea, date of birth October 1983, has been disqualified for four years commencing 18 October 2017
A disqualification order has the effect that without specific permission of a court, a person with a disqualification cannot:
Disqualification undertakings are the administrative equivalent of a disqualification order but do not involve court proceedings.
Persons subject to a disqualification order are bound by a range of other restrictions.
The Insolvency Service, an executive agency sponsored by the Department for Business, Energy and Industrial Strategy (BEIS), administers the insolvency regime, and aims to deliver and promote a range of investigation and enforcement activities both civil and criminal in nature, to support fair and open markets. We do this by effectively enforcing the statutory company and insolvency regimes, maintaining public confidence in those regimes and reducing the harm caused to victims of fraudulent activity and to the business community, including dealing with the disqualification of directors in corporate failures.
BEIS’ mission is to build a dynamic and competitive UK economy that works for all, in particular by creating the conditions for business success and promoting an open global economy. The Criminal Investigations and Prosecutions team contributes to this aim by taking action to deter fraud and to regulate the market. They investigate and prosecute a range of offences, primarily relating to personal or company insolvencies.
The agency also authorises and regulates the insolvency profession, assesses and pays statutory entitlement to redundancy payments when an employer cannot or will not pay employees, provides banking and investment services for bankruptcy and liquidation estate funds and advises ministers and other government departments on insolvency law and practice.
Further information about the work of the Insolvency Service, and how to complain about financial misconduct, is available.
Media enquiries for this press release – 020 7674 6910 or 020 7596 6187
The Insolvency Service
4 Abbey Orchard Street
London
SW1P 2HT
Email
press.office@insolvency.gsi.gov.uk
Media Manager
020 7596 6187
This service is for journalists only. For any other queries, please contact the Insolvency Enquiry line on 0300 678 0015.
For all media enquiries outside normal working hours, please contact the Department for Business, Energy and Industrial Strategy Press Office on 020 7215 1000.
You can also follow the Insolvency Service on:
Link: Press release: Swansea claims management directors disqualified for 28 years
Source: Gov Press Releases
A Bill to amend the length of time for which an individual may have a criminal record under the Rehabilitation of Offenders Act 1974.
Link: Criminal Records
Source: Public Bills
A Bill to make provision for marriages taking place in any Church of England chapel licensed for the solemnization of marriages under sections 20 and 21 of the Marriage Act 1949 to be solemnized according to the rites and ceremonies of Christian denominations other than the Church of England.
Link: Ecumenical Marriage
Source: Public Bills
A Bill to require the Secretary of State to ensure that domestic properties have a minimum energy performance rating of C on an Energy Performance Certificate; and for connected purposes.
Link: Domestic Properties (Minimum Energy Performance)
Source: Public Bills
Mr Jayawardena’s role as trade envoy will be to support and enhance the development of Britain’s trade and investment with Sri Lanka.
The Prime Minister’s Trade Envoy will be visiting Sri Lanka from 15th to 17th February to meet with senior members of the government and engage with British business’s working in Sri Lanka.
Mr. Jayawardena was elected as the Member of Parliament for North East Hampshire in May 2015 and was reelected in 2017. He has a degree in government from the London School of Economics. In Parliament he is the chair of the All Party Parliamentary Group (APPG) on Sri Lanka. Mr. Jayawardena’s father is of Sri Lankan origin.
Mr. Jayawardena said:
Given the shared history and close bonds of friendship between Britain and Sri Lanka – and with my family ties to Sri Lanka – I am looking forward to serving as the Prime Minister’s Trade Envoy at an exciting time for both our countries.
There’s lots of scope for further trade and investment between Britain and Sri Lanka. I recently visited ‘Port City’, one among many initiatives that the Sri Lankan Government is pushing forward that demonstrate its commitment to creating the right conditions for economic growth. Port City will provide a range of opportunities for UK-based professional services to work with Sri Lankan partners to take forward our shared ambitions to develop international business. I am confident that engagement by the UK’s professional services sector will help Port City to attract international investment and build its reputation.
British High Commissioner to Sri Lanka James Dauris said:
For centuries Britain has been a global trading nation. Today we have one of the world’s largest economies and strong commercial relationships with countries around the globe. As the Sri Lankan economy grows we are seeing an encouraging increase in the number of British companies wanting to do business with Sri Lanka. Mr. Jayawardana’s appointment will help us to encourage more UK firms to look at options for doing business in and with Sri Lanka and to boost bilateral trade.
Link: Press release: British Prime Minister appoints Trade Envoy for Sri Lanka
Source: Gov Press Releases
During January, there were six new detentions of foreign flagged vessels in a UK port, four vessels remained under detention from previous months. A total of six vessels remain under detention at the end of January.
Notes on the list of detentions
GT: 4355
IMO: 9136836
Flag: Malta (White List)
Company: 1st Denizcilik Ltd
Classification Society: NKK
Recognised Organisation: NKK
Recognised Organisation for ISM Doc: NKK
Recognised Organisation for ISM SMC: NKK
Date and Place of Detention: 31st January 2018 at Southampton
Summary: Four deficiencies with two grounds for detention
| Defective item | Nature of defect | Ground for Detention |
| 18313 – Cleanliness | Signs of vermin | Yes |
| 05105 – MF/HF Radio installation | Not as required | Yes |
| 07420 – Means of escape | Blocked | No |
| 16105 – Access control to the ship | Not as required | No |
This vessel was still detained on 31st January 2018
GT: 6204
IMO: 9210335
Flag: Russian Federation (White List)
Company: JSC Maritime Trade Port of Khatanga
Classification Society: RMRS
Recognised Organisation: RMRS
Recognised Organisation for ISM Doc: RMRS
Recognised Organisation for ISM SMC: RMRS
Date and Place of Detention: 30th January 2018 at Grimsby
Summary: Sixteen deficiencies with two grounds for detention
| Defective item | Nature of defect | Ground for Detention |
| 04114 – Emergency source of power – Emergency generator | Not as required | Yes |
| 01316 – Cargo information | Missing information | No |
| 10127 – Voyage or passage plan | Not as required | No |
| 10117 – Echo sounder | Inoperative | No |
| 10115 – GNSS receiver/Terrestrial radio navigation switch | Inoperative | No |
| 11101 – Lifeboats | Not ready for use | No |
| 04103 – Emergency lighting, batteries and switches | Inoperative | No |
| 11117 – Lifebuoys incl. provision and distribution | Light missing | No |
| 18407 – Lighting (working spaces) | Missing | No |
| 07199 – Other (fire safety) | Other | No |
| 07105 – Fire doors/openings in fire resisting divisions | Not as required | No |
| 18432 – Risk evaluation, training and instructions to seafarers | Not as required | No |
| 18324 – Cold room, cleanliness, cold room temperature | Not as required | No |
| 10101 – Pilot ladders and hoist/pilot transfer arrangements | Missing | No |
| 04106 – Emergency steering position communications/compass reading | Inoperative | No |
| 15150 – ISM | Not as required | Yes |
This vessel was still detained on 31st January 2018
GT: 851
IMO: 8801072
Flag: Latvia (White Flag)
Company: Aquarius Ship Management Co
Classification Society: RINA
Recognised Organisation: RINA
Recognised Organisation for ISM Doc: RMRS
Recognised Organisation for ISM SMC: RMRS
Date and Place of Detention: 16th January 2018 at Troon
Summary: Eleven deficiencies with one grounds for detention
| Defective item | Nature of defect | Ground for Detention |
| 18425 – Access/structural features (ship) | Damaged | Yes |
| 10111 – Charts | Missing | No |
| 10129 – Navigation records | Not as required | No |
| 01201 – Certificates for master and officers | Not as required | No |
| 11116 – Distress flares | Expired | No |
| 18401 – Medical equipment, medical chest, medical guide | Expired | No |
| 01310 – Signs, indications | Missing | No |
| 18416 – Ropes and wires | Damaged | No |
| 03103 – Railings, gangway, walkway and means of safe passage | Damaged | No |
| 03110 – Bulwarks and freeing ports | Damaged | No |
| 15150 – ISM | Not as required | No |
This vessel was released on 20th January 2018
GT: 3345
IMO: 7905285
Flag: St Vincent & Grenadines
Company: Seaway Offshore LLC
Classification Society: DNV GL
Recognised Organisation: DNV GL
Recognised Organisation for ISM Doc: DNV GL
Recognised Organisation for ISM SMC: DNV GL
Date and Place of Detention: 19th January 2018 at Sunderland
Summary: Fifteen deficiencies with one grounds for detention
| Defective item | Nature of defect | Ground for Detention |
| 16105 – Access control | Not as required | No |
| 01214 – Enforcement by flag state | Missing | No |
| 01137 – Civil liability for oil pollution damage cert | Missing | No |
| 10127 – Voyage or passage plan | Lack of information | No |
| 10116 – Nautical publications | Missing | No |
| 18399 – Other (Accommodation, recreational facilities) | Other | No |
| 07122 – Fire control plan | Not updated | No |
| 15150 – ISM | Not as required | Yes |
| 07109 – Fixed fire extinguishing installation | Not as required | No |
| 18302 – Sanitary Facilities | Not as required | No |
| 18324 – Cold room, cold room cleanliness, cold room temperature | Inoperative | No |
| 14499 – Other (Marpol Annex IV) | Other | No |
| 07114 – Remote means of control (opening, pumps, ventilation etc.) Machinery spaces | Inoperative | No |
| 03108 – Ventilators air pipes, casings | Corroded | No |
| 14108 – 15ppm alarm arrangements | Inoperative | No |
This vessel was still detained on 31st January 2018
GT: 224
IMO: 7312402
Flag: Panama (White Flag)
Company: Hakvoort Transport Shipping BV
Classification Society: QRS
Recognised Organisation: QRS
Recognised Organisation for ISM Doc: N/A
Recognised Organisation for ISM SMC: N/A
Date and Place of Detention: 16th January 2018 at Dover
Summary: Twenty three deficiencies with eleven grounds for detention
| Defective item | Nature of defect | Ground for Detention | |
| 01214 – Endorsement by flagstate | Missing | Yes | |
| 01220 – Seafarers’ employment agreement (SEA) | Missing | Yes | |
| 10111 – Charts | Not updated | Yes | |
| 10116 – Nautical publications | Not updated | Yes | |
| 10127 – Voyage or passage plan | Not as required | Yes | |
| 01108 – Load lines (including exemption) | Missing | Yes | |
| 11116 – Distress flares | Expired | No | |
| 11117 – Lifebuoys inc. provisions and disposition | Not as required | No | |
| 18417 – Anchoring devices | Not properly maintained | No | |
| 18399 – Other (Accommodation, recreational facilities) | Other | No | |
| 13101 – Propulsion main engine | Not as required | No | |
| 02113 – Hull – cracking | Cracked | No | |
| 11104 – Rescue boats | Not ready for use | Yes | |
| 07199 – Other (fire safety) | Other | Yes | |
| 04102 – Emergency fire pump and its pipes | Not as required | Yes | |
| 07110 – Fire fighting equipment and appliances | Not as required | Yes | |
| 18404 – Electrical | Unsafe | Yes | |
| 04103 – Emergency lighting, batteries and switches | Inoperative | No | |
| 18299 – Other (conditions of employment) | Other | No | |
| 11113 – Launching arrangements for rescue boats | Not as required | No | |
| 07113 – Fire pumps and its pipes | Not as required | No | |
| 06199 – Other (cargo) | Other | No | |
| 07118 – International shore connection | Not as required | No |
This vessel was released on 25th January 2018
GT: 3999
IMO: 9183427
Flag: Netherlands (White flag)
Company: Holwerda Shipmanagement BV
Classification Society: DNV GL
Recognised Organisation: DNV GL
Recognised Organisation for ISM Doc: DNV GL
Recognised Organisation for ISM SMC: DNV GL
Date and Place of Detention: 11th January 2018 at Blyth
Summary: Seventeen deficiencies with two grounds for detention
| Defective item | Nature of defect | Ground for Detention |
| 10138 – BNWAS | Inoperative | No |
| 03106 – Windows, sidescuttles and deadlights | Not properly maintained | No |
| 10109 – Lights, shapes, sound signals | Not properly maintained | No |
| 18407 – Lighting (working spaces) | Damaged | No |
| 18425 – Access/structural features (ship) | Not as required | No |
| 02114 – Bulkhead – corrosion | Holed | No |
| 10105 – Magnetic compass | Not readable | No |
| 07106 – Fire detection and alarm system | Not as required | No |
| 18416 – Ropes and wires | Not as required | No |
| 03108 – Ventilators, air pipes, casings | Damaged | Yes |
| 18399 – Other (accommodation, recreational facilities) | Other | No |
| 13103 – Gauges, thermometers, etc. | Not as required | No |
| 18420 – Cleanliness of engine room | Not as required | No |
| 04103 – Emergency lighting, batteries and switches | Not as required | No |
| 14105 – Pumping, piping and discharge arrangements | Not as required | No |
| 15150 – ISM | Not as required | Yes |
| 07105 – Fire doors/opening in fire resisting divisions | Not as required | No |
This vessel was released on 14th January 2018
GT: 652
IMO: 7222310
Flag: St Vincent & Grenadines (Grey List)
Company: No Information
Classification Society: No Information
Recognised Organisation: No Information
Recognised Organisation for ISM Doc: No Information
Recognised Organisation for ISM SMC: No Information
Date and Place of Detention: 29th November 2017 at Falmouth
Summary: Eight deficiencies with eight grounds for detention
| Defective item | Nature of defect | Ground for Detention |
| 01209 – Manning specified by the minimum safe manning doc | Missing | Yes |
| 01214 – Endorsement by flagstate | Missing | Yes |
| 07111 – Personal equipment for fire safety | Missing | Yes |
| 01199 – Other (Certificates) | Other | Yes |
| 11116 – Distress flares | Missing | Yes |
| 05103 – Main installation | Missing equipment | Yes |
| 10105 – Magnetic compass | Not as required | Yes |
| 14103 – Segregation of oil and water ballast | Not as required | Yes |
This vessel was still detained on 31st January 2018
GT: 3001
IMO: 9087312
Flag: India (Grey List)
Company: GOL Offshore Ltd
Classification Society: IRS
Recognised Organisation: IRS
Recognised Organisation for ISM Doc: IRS
Recognised Organisation for ISM SMC: IRS
Date and Place of Detention: 5th October 2016 at Aberdeen
Summary: Five deficiencies with five grounds for detention
| Defective item | Nature of defect | Ground for Detention |
| 07105 – Fire doors/openings in fire resisting divisions | Not as required | Yes |
| 07113 – Fire pumps and its pipes | Not as required | Yes |
| 18203 – Wages | Missing | Yes |
| 01220 – Seafarers employment agreement (SEA) | Invalid | Yes |
| 18204 – Calculation and payment of wages | No records | Yes |
This vessel was released on 27th January 2018
GT: 964.
IMO No: 7393169.
Flag: PANAMA (white list)
Company:
Classification Society: Expired
Recognised Organisation: Expired
Recognised Organisation for ISM DOC:
Recognised Organisation for ISM SMC:
Date and Place of Detention: 17 June 2016, West Cowes
Summary: Seventeen deficiencies with seventeen grounds for detentions
| Defective item | Nature of defect | Ground for Detention |
| 01101 – Cargo ship safety equipment cert | Expired | Yes |
| 01102 – Cargo Ship safety construction cert | Expired | Yes |
| 01104 – Cargo ship safety radio cert | Expired | Yes |
| 01108 – Loadline cert | Expired | Yes |
| 01117 – IOPP (International Oil Pollution Prevention cert | Expired | Yes |
| 01119 – International Sewage Pollution Prevention cert | Expired | Yes |
| 01124 – International Air Pollution Prevention cert | Expired | Yes |
| 01137 – Civil liability for bunker oil pollution damage cert | Expired | Yes |
| 01199 – Other certs (Certificate of class) | Expired | Yes |
| 01201 – Certificates for master and officers | Missing | Yes |
| 10111 – Charts | Not updated | Yes |
| 10116 – Publications Nautical | Not updated | Yes |
| 11108 – Inflatable liferafts | Expired | Yes |
| 11116 – Distress flares | Missing | Yes |
| 07109 – Fixed fire fighting extinguishing installation | Not as required | Yes |
| 07110 – Fire fighting equipment & appliances | Not as required | Yes |
| 01140 – Declaration of Maritime Labour Compliance | Missing | Yes |
This vessel was still detained on 31st January 2018
GT: 106.
IMO No: 8944446.
Flag: Unregistered.
Company: Open Window Inc.
Classification Society: Unclassed.
Recognised Organisation: Not applicable.
Recognised Organisation for ISM DOC: Not applicable.
Recognised Organisation for ISM SMC: Not applicable
Date and Place of detention: 4 March 2010, Lowestoft
Summary: Thirty deficiencies including seven grounds for detention
This vessel was still detained on 31st January 2018
Notes to Editors
• The MCA is a partner in the Sea Vision UK campaign to raise awareness and understanding of the sea and maritime activities. Sea Vision promotes the importance and economic value of the sector and works to highlight the exciting range of activities and career opportunities available to young people within the UK growing maritime sector at www.seavision.org.uk
• Follow us on Twitter: @MCA_media
For further information please contact
Maritime and Coastguard Agency Press Office, on:
+44 (0) 2380 329 401
Press releases and further information about the agency is available here.
Link: Press release: FOREIGN FLAGGED SHIPS UNDER DETENTION IN THE UK DURING JANUARY 2018
Source: Gov Press Releases
Energy and Clean Growth Minister Claire Perry today (7 February) welcomed the protection that 1 million more vulnerable consumers will get this winter from the extension of the energy regulator’s safeguard tariff cap.
With the cap in place, these consumers will only see an increase of around 3.7% in their bills compared to an average 8% increase of dual-fuel standard variable tariffs of the Big Six last year.
Ofgem’s extension of the current prepayment meter cap to those who receive the Warm Home Discount means 5 million people are now protected from unfair energy price rises.
The move comes as the government’s own energy Tariff Price Cap Bill is expected to be introduced to Parliament shortly. The Bill will extend the price cap to the highest tariffs.
Energy and Clean Growth Minister Claire Perry said:
It is a positive step that a million vulnerable consumers are now being protected from unfair energy price rises through the energy cap.
But energy tariffs are still too high – customers of the Big Six energy suppliers are overpaying by up to a staggering £1.4 billion a year. This is totally unacceptable and why government will continue to go further – including by bringing in new laws in the forthcoming energy Tariff Price Cap Bill to put an end to rip-off standard tariffs.
Notes to Editors:
Link: Press release: Ministers welcome protection of 1 million more from high energy prices
Source: Gov Press Releases