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UK energy regulator to publish indication of price cap level in Sept

UK energy regulator to publish indication of price cap level in Sept
FILE PHOTO: The sun rises behind electricity pylons near Chester, northern England October 24, 2011. REUTERS/Phil Noble   -   Copyright  Phil Noble(Reuters)
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LONDON (Reuters) – British energy regulator Ofgem said on Thursday it would publish draft details on how the rules of an energy price cap will work in early September, as well as an indication of where the price cap could be set.

A final decision on the cap level would be issued later in the year and that the price cap is still expected in place before the end of 2018, an Ofgem spokesman said

Draft details were expected next week but the spokesman told Reuters that publication had been delayed to enable the regulator to consider more closely consultation responses given by industry

UK Prime Minister Theresa May said last October she would impose controls to tackle what she called “rip-off” energy prices.

All of Britain’s top energy suppliers have announced prices increases this year, blaming rising wholesale costs.

(Reporting By Susanna Twidale; editing by Nina Chestney)

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