Industry regulator Ofgem has delayed the publication of its proposals for the incoming energy price cap to allow more time to consider consultation responses.
Draft details were due to be published next Thursday (23 August) but this is now expected to happen in early September instead.
Ofgem said it has received extensive responses to its consultation on the cap, which was launched earlier this year, and has therefore decided to push back the publication of the methodology.
A total of five working papers have been published by Ofgem in relation to the energy price cap.
The first looked at what the regulator described as “high level questions surrounding the cap”.
It was followed by a second paper considering the use of a “market basket” to set the initial level of the default tariff cap, which could then be updated over time.
The third considered price cap headroom, the fourth tackled environmental and social obligations costs and the fifth sought views and evidence on the updated competitive reference price approach to setting the initial level of the default tariff cap.
Earlier this month Ofgem announced the level of its safeguard tariff will be raised by £47 per year for dual fuel customers to £1,136 from 1 October.
Ofgem said the increased tariff is due to higher wholesale gas and electricity costs since the level was last updated in February to protect one million more customers who receive the Warm Home Discount.
Last month the regulator announced it was dropping plans to introduce a backstop price protection for vulnerable customers after the proposed energy price cap bill gained Royal Assent.
The price cap will protect an estimated 11 million households on poor value default tariffs by the end of the year.