Energy price cap to be updated four times a year under Ofgem plan

Regulator says it wants to deliver price falls quickly to consumers and help suppliers manage risk

Great Britain's energy regulator has confirmed it is planning to update the energy price cap four times a year from October to allow it and consumers to adjust more quickly to volatile markets.

Ofgem on Monday published a consultation on proposals to introduce new reviews of the price cap in January and July, adding to existing changes in April and October.