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Electricity price control set to save customers £12 a year

Electricity pricing will be controlled for eight years from April 2015 leading to a £12 a year reduction in household energy bills, Ofgem has announced.

The energy regulator rejected price control plans from five of the six big energy companies, saying they did not represent value for money.

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Energy companies to make improvements 'for £12 less'

Energy providers will have to improve their services by "£12 a year less" than they normally would and then pass those savings on to consumers, OfGem have announced.

Speaking on Good Morning Britain OfGem's Maxine Frerk, said the changes should come into force "from next April" and savings "should flow into customer's bills from that point".

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