Energy UK welcomes referral to the Competition and Markets Authority
The referral to the Competition and Markets Authority will give an opportunity to clear the air. It will allow the energy industry to address domestic customer issues and bring forward serious impact studies of policies.
The industry knows there is much to do to restore trust between customers and companies. Now that the referral has been confirmed, it is essential that it:
- Rebuild and restore customer faith in the market;
- Be clear about what are the responsibilities of the companies, and what is out of the companies’ control: e.g. the wholesale market costs, policy costs, tax; and
- Shine a light on what is required as an investment return and what are profits.
Angela Knight said:
“The competition inquiry will allow us to put to bed the toxic debate and shine a light on the progress the industry has already made. There are now more companies than ever in the market, switching is on the up especially to smaller suppliers and the industry is making it easier than ever for customers to engage with their company."
Notes for editors
- To read Energy UK’s full response to Ofgem’s consultation on a CMA referral, visit our website
- To see the Ipsos MORI report, commissioned by Energy UK, on consumer experiences of the energy market, also visit our website
- You can view Ofgem’s proposal to make a referral to the CMA on their website
- The Cornwall Report into competition in British household energy supply markets