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Beyond the Energy Price Guarantee. With or without?

Beyond the Energy Price Guarantee. With or without?

39/2022 Thiemo Fetzer
public policy,policy briefing

39/2022 Thiemo Fetzer

In response to the energy crisis amidst a wider cost of living crisis (see Harari et al, 2022), the UK government put in place the Energy Price Guarantee (EPG) on 8 Sept 2022, which caps the unit price of energy for all consumers. This policy is now, following a statement by the new Chancellor Jeremy Hunt on 17 Oct 2022, due to remain in place until April 2023 after which new longer-term policies for supporting consumers will be considered.

In advance of the Medium-Term Fiscal Plan, set for 31 October, this briefing outlines the main shortcomings of the EPG and proposes alternative measures to address these issues.