The Chief Executive of Ofgem Jonathan Brearley has stressed the “need for a long term solution” as the industry announces the energy price cap will fall by £238 to £1,690 this spring. Report by Ajagbef. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
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00:00 Well, there is the need for a long-term solution. It's absolutely there because this is not a problem for this year.
00:05 We need huge investment in the industry. We need to make sure that ultimately this country diversifies away from gas.
00:12 But that takes time. You know, there are always winners and losers in situations like this.
00:16 We need to work through it carefully, but we need to make sure that customers are looked after.
00:20 But I come back to where I started. Ultimately, this is positive news for many customers.
00:24 Let's focus on those who are struggling the most.