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Energy UK responds to BEIS Committee report on Energy pricing and the future of the Energy Market

Responding to BEIS Select Committee’s report on energy pricing and the future of the energy market, Energy UK’s Director of Regulation, Daniel Alchin said:

 “With energy bills projected to rise by even more than had been predicted, the report is right to say that the Government needs to look again at the existing support package and at what more can be done to help customers who are already struggling to afford their energy bills.
“Recent months have exposed the shortcomings of how the price cap currently operates so it is necessary to look at what we want it to deliver – particularly whether it provides the right protection to the most vulnerable customers. 
“As well as urgently reassessing the support available this winter – and with costs unlikely to fall significantly in the foreseeable future – we have long argued that the best way to help reduce bills permanently for customers would be through a comprehensive energy efficiency programme to upgrade our homes.
“Despite rising costs, energy suppliers continue to increase the support they provide to customers, including additional funding for customers in fuel poverty. They must also be able to operate sustainably so more costs aren’t added onto customers’ bills through supplier failure.
“It’s clear that a review of regulation is needed to avoid the mistakes of the past whilst ensuring a robust market that delivers an affordable, secure energy system that is not reliant on expensive imported gas.”