The Cornwall Energy report for February, March and April 2014 shows that the market share of the largest companies continues to be challenged by smaller companies, the number of suppliers in the market has increased and the size of the UK market has grown. The report, published by Energy UK, shows that the largest companies share of the dual fuel market has fallen to 92.2%. The number of domestic suppliers is at an all-time high of 25 companies.
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"Figures show people are taking advantage of competition in the energy industry by switching supplier. There are now more than 20 suppliers that customers can chose from. We encourage people to shop around to make sure they are on the best tariff for them. We are making it quick and easy to switch supplier so people can readily compare one tariff with another."
“Smart meters are able to collect more data than regular meters, this data will be made available to the customer via their In Home Display, which will help customers to better understand their energy consumption within the home. It is important to note smart meter data is not real-time monitoring of energy usage and therefore it cannot be used to see when customers are having a shower or have put on a load of washing.
Basing decisions which affect millions of energy customers on fluctuating and incomplete estimates, risks creating a bad deal for customers, Energy UK chief executive Angela Knight said today.
Mrs Knight said the huge gap between the regulator’s estimates of what the suppliers earn from selling energy and the actual figures, raises big questions about Ofgem’s Supply Market Indicators (SMIs).
“It is the elderly and those in poor housing that are most affected by cold weather, and for these people there is often help available from the energy industry. New boilers, insulation and double glazing, work wonders in keeping homes warm for less. Many can afford to make these home improvements, but some can’t.
In response to the European Commission's announcements on UK Capacity Market and UK aid package for renewable electricity production, Energy UK said:
"Millions of pounds of investment in energy will be unlocked as a result of today’s news that the European Commission has approved the UK’s Electricity Market Reform package.
“Energy suppliers are committed to delivering ECO as cost effectively as possible while complying with Ofgem’s rules and keeping customer service at the forefront of all their activities.
“Energy suppliers are committed to helping people make their homes warmer and more energy efficient. Suppliers already provide a wide range of help and support is already available and DECC’s announcements are a positive step towards tackling fuel poverty. It is important that the fuel poverty target focuses on the energy efficiency of fuel poor homes. Improving the energy efficiency is one of the most cost effective ways to help customers reduce their bills and stay warm.
In response to the Ombudsman Association on energy complaints Energy UK said:
“The energy industry works hard to provide the best service for its customers but in an industry serving 27 million households sometimes things go wrong. However no one wants to see complaints rise and each complaint is taken very seriously with companies working hard and investing in resources and new systems to resolve issues as quickly as possible. Most complaints are dealt with by the end of the next working day with no more than a phone call.
Angela Knight, chief executive of Energy UK said:
“Consumers are at the heart of we do and we are constantly working hard to improve our relationship with them. There have been many changes taking place, which aim to make the market simpler, clearer and fairer for customers. With over 20 different suppliers, more than a million customers have switched to a smaller energy provider this year alone.