Energy UK responds to the BEIS select committee report on the proposed energy price cap legislation
Responding to the BEIS Select Committee report on the proposed energy price cap legislation, Lawrence Slade said:
“With a record 1 in 6 customers switching last year and over 60 suppliers to choose from, the energy market is changing rapidly and has never offered so much choice. It’s vital the cap doesn’t halt the growth of competition which is helping customers to find a better deal and save on their energy bills.
“It’s also important that the cap accurately reflects suppliers’ costs, most of which are out of their direct control. Ofgem’s decision to raise the level of the prepayment cap last week shows how these costs can increase.
“Suppliers will remain committed to further improving engagement and choice for all their customers and doing more to support those in vulnerable circumstances.”