About Tariff
A tariff is a tax on imports or exports between sovereign states. It is a form of regulation of foreign trade and a policy that taxes foreign products to encourage or safeguard domestic industry. Traditionally, states have used them as a source of income.
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... Am I eligible for a social Tariff? Ofcom has helped bring so-called social broadband and mobile Tariffs, which aim to support people on universal credit and other means-tested benefits, to the market...
Discounted fixed energy deals could still prove expensive
...Energy companies will start to contact domestic customers within days about new energy Tariffs - including information for those on fixed deals...
Why are gas prices so high and what is happening to fuel bills?
... What s going to happen? Every six months, Ofgem, the energy regulator, reviews the maximum price that suppliers in England, Wales and Scotland can charge domestic customers on a standard - or default - Tariff...
Energy bills: 'I am already paying an extra £60 a month'
... When such a deal expires, customers automatically move onto a default Tariff, which is protected by regulator Ofgem s price cap - but which will rise by hundreds of pounds in April when suppliers are allowed to recoup some of the higher wholesale costs they face...
Gas prices: MPs and peers urge PM to act on energy bills
... But many will find themselves on a different - and potentially more expensive - Tariff than their previous energy deal...
Energy price cap to be reviewed as firms go bust
... Ofgem can review the price cap - which is the maximum amount per unit that a supplier can charge households on a standard Tariff - twice a year...
My money: The alcohol bill has risen, but he has earned it!'
... I needed a new phone a few months ago as my contract increased to £23 per month from £13 Tariff I was on, as I found out, that over the duration of the contract (24 months), I would just the same as buying a new mobile pay about part...
Dennis Nilsen: Serial killer died in 'excruciating pain'
... The sentence was later upgraded to a whole-life Tariff...
Energy price cap to be reviewed as firms go bust
The UK energy watchdog has said it will review how The Price Cap on gas and electricity bills is calculated following a series of company failures.
Ofgem said there had been an " unprecedented" rise in wholesale energy prices.
Suppliers are unable to pass on the full rise to consumers because of a price Cap on household bills, prompting A Number of firms to collapse.
Ofgem will examine if The Price Cap reflects the risks facing companies.
It said it will " consult on The Price Cap methodology to ensure it appropriately reflects the costs, risks and uncertainties facing suppliers".
A Number of UK energy firms have gone bust in recent weeks after wholesale global gas prices surged by as much as 250% since the start of the year.
Ofgem can review The Price Cap - which is the maximum amount per unit that a supplier can charge households on a standard Tariff - Twice a year.
The Most recent review lifted The Price Cap by 12% to a record £1,277.
In a letter to the energy industry, Ofgem's chief executive Jonathan Brearley, said: " The unprecedented rise in energy prices this year has changed The Perception of risk and uncertainty in this market.
" In order to protect the interests of consumers, we must ensure that the regulatory frameworks, including The Price Cap , fully reflect the costs, risks and uncertainties facing the supply companies we regulate. "
Over The Past couple of months, More Than two million households have seen their energy suppliers go bust because of The Rise in gas prices.
Ofgem has stepped in to find a New Energy supplier for these households.
However, it has also meant that consumers face higher energy bills because their new supplier may not be able to offer the Tariff they were on before.
" We've got to take a cold, hard look at the energy market to understand what went wrong and to make sure we can stop this happening again, " said Michael Lewis , UK chief executive of E. On, which has taken on customers from three collapsed energy companies.
" Customers are already facing steep rises in bills because of the sudden jump in wholesale energy costs, made worse by the added costs from the failure of More Than a dozen energy companies. "
Ofgem currently calculates the Cap by looking at wholesale gas prices, energy suppliers' network costs and costs of government policies such as renewable power subsidies.
It will launch the consultation in November. A decision on any changes will be published in February, when the new price Cap will be announced before it is implemented in April .
Source of news: bbc.com
Tariff Photos
