As gas prices are expected to rise by at least 20 per cent, intervention came “a little late”, according to AI Group Climate and Energy Policy Director Advisor Tennant Reed.
“It’s going to have an impact over time; it already has had an impact on electricity,” he told Sky News host Steve Price.
“But for gas, most users and most large retailers were already contracted ahead for most of 2023 by the time these price caps were announced. “But for most users, they are going to experience the price increases that were already coming at them, at least for this year, and the potential for a bigger impact on price reductions or lower increases for the next couple of years.”
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