Former watchdog attacks May plan to cap energy bills

A FORMER energy regulator today attacked Theresa May’s “anticompetitive” plan for a cap on gas and electricity bills and urged her to slash “rip-off ” standing charges instead.

In a paper published today for think-tank Ideal Economics, economist David Osmon, who worked at industry watchdog Ofgem until June, said his plans would save households £100 a year and could be implemented immediately. The proposals announced by the Prime Minister yesterday for a cap on standard variable tariffs are unlikely to come into force before winter.