Ignacio Galan, chief executive of Iberdrola, which owns Scottish Power, has criticised the energy price cap. He believes the price cap was a short-term decision to protect consumers that could cause long-term damage to the market. The energy price cap is designed to protect domestic consumers by limiting how much energy providers can charge them per unit. It is currently set at £1,277 per average person.

(c) 2021 City A.M., source Newspaper