Energy UK comments on Ofgem's State of the Market report
Commenting on Ofgem’s State of the Market report, Energy UK’s chief executive Lawrence Slade said:
“Ofgem’s State of the Market report demonstrates how the energy sector continues to transition with increasing competition and engagement driving benefits for consumers, with switching up, complaints down and households spending less on average of their household budget on energy than last year. It is also welcome to see customer satisfaction with complaints handling increasing and the number of customers on standard tariffs continuing to fall.
“And the industry is proactively taking steps to go further with a number of voluntary initiatives to improve service for customers, including the Energy Switch Guarantee which provides customers with the reassurance that switching will be simple, speedy and safe. The independently-chaired Commission for Customers in Vulnerable Circumstances is also looking at how all stakeholders, including Government and industry, can improve services for those in most need.
“However with the proposed price cap posing a significant challenge for many suppliers, there is a worry that over the next year it could halt the positive change and increasing competition detailed in this report and therefore have unintended consequences for customers.”