Liz Truss, the favourite to become the next prime minister, is under increasing pressure to scrap May’s policy. “I think the price cap has outlived its purpose,” said Nigel Pocklington, chief executive of Good Energy, which has about 85,000 domestic customers. He pointed out that May’s policy was designed to stop the so-called “loyalty tax” — a result of energy firms hitting existing customers with high variable tariffs while tempting in new customers with cheaper fixed-rate deals. “It was never … read more »
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