capped | Common News Update

The UK's competition watchdog has accepted a proposal to cap rail fares on certain routes between Preston in Lancashire and Scotland.The agreement is part of a deal with FirstGroup and Trenitalia, who now run the West Coast Rail franchise.The Competition and Markets Authority (CMA) had raised concerns that train ticket prices could rise.It found that on 21 routes, passengers would have little or no option but to choose a service run by FirstGroup.After the first phase of an investigation into the new contract, the CMA discovered that on 17 routes between Preston and Scotland, passengers could only choose from West Coast Rail, operated by the joint venture between FirstGroup and Trenitalia, or from TransPennine Express, which is operated solely by FirstGro...

A cap on gas and electricity prices could be introduced as early as this winter, Energy Minister Greg Clark has suggested.He told the BBC that the energy regulator Ofgem would receive legal backing from parliament for action on prices.Asked if this could mean action this winter, he replied: "Precisely."But the boss of British Gas-owner Centrica, Iain Conn, warned that price caps could mean the end of cheap deals.On Wednesday, Prime Minister Theresa May revived plans to cap prices, something that was promised in the Conservative's election manifesto but was absent from June's Queen's Speech.Her statement was followed by sharp falls in energy company share prices. But Thursday trading saw a partial recovery, with most up by 1% or more.Mr Clark told the BBC's Today programme: "If they [Ofgem]...

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West Coast Rail: Preston-to-Scotland rail fares to be capped

Energy prices could be capped this winter, suggests minister