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Scottish Power urges Government to bring in price cap freeze as winter crisis looms

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City AM

By Nicholas Earl Calls for energy bills to be frozen ahead of winter have gathered steam after the boss of Scottish Power proposed that the energy price cap should be held for the next two years. In a meeting at Downing Street this week, he proposed that suppliers could cover the gap between the current rate and wholesale prices through borrowing from a “deficit fund” supported by commercial banks, according to The Sunday Times. These sums would be repaid over the next ten to 15 years. which would be passed on to consumers via their energy bills over this period or shifted onto general taxatio…

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