Ofgem Considers Targeted Price Caps Amid Changing Energy Usage Patterns

• Ofgem considering dynamic price cap that changes based on when households use appliances • Aims to adapt to changing consumer habits and growth of EVs, heat pumps, solar panels • Looking at targeted caps based on vulnerability or limiting supplier profit margins • Considering replacing universal cap with ban on acquisition-only tariffs • Wants to balance consumer protection with incentives for investment and innovation