In response to Caroline Flint's speech 'The Choice on energy bills', Energy UK said:
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“Improving energy efficiency is a great way to save money and help customers cut their bills. Energy companies are committed to helping people make their homes more energy efficient and warmer.
The energy industry employs workers up and down the country and, unlike many industries, has increased job opportunities. Between 2008 and 2013, employment in the energy sector grew by 30 per cent - a total of around 28,000 new employees.
Faster switching is set to boost the positive impact switching is already having for consumers. The energy industry believes faster switching will encourage competition in the market and give customers greater confidence to shop around. Energy UK and its members will work with Ofgem but we need to keep consumer protection and data migration challenges in mind.
The Cornwall Energy report for February, March and April 2014 shows that the market share of the largest companies continues to be challenged by smaller companies, the number of suppliers in the market has increased and the size of the UK market has grown. The report, published by Energy UK, shows that the largest companies share of the dual fuel market has fallen to 92.2%. The number of domestic suppliers is at an all-time high of 25 companies.
"Figures show people are taking advantage of competition in the energy industry by switching supplier. There are now more than 20 suppliers that customers can chose from. We encourage people to shop around to make sure they are on the best tariff for them. We are making it quick and easy to switch supplier so people can readily compare one tariff with another."
“Smart meters are able to collect more data than regular meters, this data will be made available to the customer via their In Home Display, which will help customers to better understand their energy consumption within the home. It is important to note smart meter data is not real-time monitoring of energy usage and therefore it cannot be used to see when customers are having a shower or have put on a load of washing.
Basing decisions which affect millions of energy customers on fluctuating and incomplete estimates, risks creating a bad deal for customers, Energy UK chief executive Angela Knight said today.
Mrs Knight said the huge gap between the regulator’s estimates of what the suppliers earn from selling energy and the actual figures, raises big questions about Ofgem’s Supply Market Indicators (SMIs).
“It is the elderly and those in poor housing that are most affected by cold weather, and for these people there is often help available from the energy industry. New boilers, insulation and double glazing, work wonders in keeping homes warm for less. Many can afford to make these home improvements, but some can’t.
In response to the European Commission's announcements on UK Capacity Market and UK aid package for renewable electricity production, Energy UK said:
"Millions of pounds of investment in energy will be unlocked as a result of today’s news that the European Commission has approved the UK’s Electricity Market Reform package.
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