Energy UK comment on Ofgem CMA proposals
Following Ofgem's letter to the Competition and Markets Authority (CMA) detailing its response to the investigation and its implementation proposals, Energy UK has issued a statement. Energy UK said:
“Customers need to be at the heart of what industry does. Ofgem’s CMA implementation plan has rightly identified consumer engagement as being key to a competitive energy market.
“Over two million customers have switched in 2016 so far, there are now 44 suppliers in the market, offering different tariffs for different needs. Prices are now £200 cheaper than in 2014 with over 40 deals under £900. The new Energy Switch Guarantee – launched by the Industry last month – is designed to reassure customers how safe and easy it is to switch.
“There is not one set price for electricity and gas. Each company uses different buying strategies when getting energy - that can range from a week ahead to two years ahead.
“No customer should be worried about keeping the lights on and if they are they should contact their supplier immediately.”
Notes to editors:
- Information about the Guarantee can be found on the Energy Switch Guarantee website.
- To see the latest monthly switching stats, please visit Energy UK’s website.
- Warm Home Discount - Providing direct financial support to fuel poor customers via the Warm Home Discount (WHD). This winter alone suppliers have spent in excess of £200m supporting 1.4 million pensioners via the Warm Home Discount, a £140 rebate on their electricity bill. It was recently announced that WHD is set to continue until 2021.
- Debt Assignment Protocol - working with the regulator, Ofgem, ten energy suppliers have voluntarily taken steps to change how they operate the Debt Assignment Protocol (DAP). The changes aim to make it easier and simpler for customers who use a prepayment meter and are repaying a debt of £500 or less per fuel to switch.
- The Energy UK Safety Net which was set up to protect vulnerable people from getting cut off. Britain’s six largest energy suppliers have signed up to Energy UK’s Safety Net for Vulnerable Customers.