Energy UK comments on Conservative party announcement of an energy price cap
Please find below our statement in response to the Conservative announcement of an SVT cap.
Lawrence Slade, chief executive of Energy UK said:
“Today’s announcement effectively risks giving up on competition at a time when we need engaged consumers more than ever.
“Change is happening at a rapid pace in the energy sector – with ever-increasing levels of engagement, more choice and improving customer service. Further intervention risks undermining so many of the positive changes we are seeing in the market which are delivering benefits for consumers.
“The energy sector is passionate about the essential service it provides and stands ready to work with government and the regulator to ensure the energy market works for all customers. We know more needs to be done and are committed to this. However the solution is not to distort the market as a whole but see through the market reforms, allow competition to drive innovation and benefits for customers, while ensuring that there is targeted support for those most in need.”