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regulating non-domestic Third Party Intermediaries

Energy UK, in its response to Ofgem’s consultation on proposals for regulating non-domestic Third Party Intermediaries (TPIs), called for an Ofgem-led Code of Practice to police the Third Party Intermediary market in energy until direct relation can be put in place. The response also called for a code of practice that ensures transparency on price and commission to make sure customer advice remains unbiased. However, Energy UK also highlighted that the majority of TPIs do treat customers fairly and that regulation should not inhibit competition and choice for the customer.

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Energy UK response to Ofgem's consultation on regulating non-domestic Third Party Intermediaries

Energy UK, in its response to Ofgem’s consultation on proposals for regulating non-domestic Third Party Intermediaries (TPIs), called for an Ofgem-led Code of Practice to police the Third Party Intermediary market in energy until direct relation can be put in place. The response also called for a code of practice that ensures transparency on price and commission to make sure customer advice remains unbiased. However, Energy UK also highlighted that the majority of TPIs do treat customers fairly and that regulation should not inhibit competition and choice for the customer.

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Statement on Energy Companies Obligation restructure

The largest energy companies have all made commitments to reduce customer bills following the Government’s announcement of a restructure of the Energy Companies Obligation (ECO).

Energy UK has published a table detailing the actions of each company; which customers were having their bills reduced, the size of the reduction and when the reduction came into effect.

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Electricity switching is still on the rise

The April electricity switching figures show that the number of people changing electricity supplier is still increasing. April was the third month in a row when the total number of switches increased, hitting a total of 289,000. The number of people switching to small suppliers reached an all-time high of 135,000 this is a record 46.88%.

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Wholesale Electricity Market Report continues to shine light on power trading

The second edition of Energy UK’s new Wholesale Market Report continues to shine a light on the trading of electricity in the market. The report sets out the electricity trading horizon at different dates, from the coming season to just a day ahead, so people can get a better picture of how average wholesale electricity prices are changing over time.

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Energy UK’s response to Ofgem’s consultation on the costs for the CfD Counterparty and the CM Settlements Company

Energy UK supports setup of these new bodies in line with EMR implementation timeframes and the principle of sharing costs across the two companies. However, we believe that there needs to be clarification over the salary costs at the CfD Counterparty and on the chosen CfD supplier obligation and CM payment model designs.  

Energy UK’s full response can be read on the Energy UK website. 

Competition within non-domestic energy markets on the up

New findings show the non-domestic electricity and gas markets are the most competitive they have ever been.  An independent report commissioned by Energy UK reveals that in recent years the number of active energy companies operating in the unconcentrated markets, and market shares outside the major suppliers, have contributed to an increase in competition.  This follows on from the first assessment, which found more companies have been supplying gas and electricity to homes across the UK.

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Energy UK's response to claims of an ECO windfall

“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. The major companies have all already announced that they will pass on savings to customers following a restructure of ECO. These changes have highlighted the need to ensure policies are affordable to the customer. An independent evaluation of the first year of ECO, undertaken by the Centre for Sustainable Energy, predicted a delivery cost to be £1.54bn, without the proposed changes to ECO. This is over £200m more than originally predicted.

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It’s the Meter that Matters says Knight

Accurate meter readings are key to keeping control of your energy use and finding the best deal for you, Energy UK said today. Chief executive Angela Knight said that a regular meter check should be at the top of everyone’s to-do list.  Knight said customers need to understand the importance of sending accurate information to their energy company, as bills and energy deals are based on gas and electricity used. Energy companies will send estimated bills if they have no recent meter readings and this could mean customers paying more or less than is necessary.

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Be an Energy Shopper

Shopping around for the best energy deal can help customers control the cost of their heating and lighting so Energy UK is backing Ofgem’s new 'Be an Energy Shopper’ campaign. The energy industry has been working hard to reform the gas and electricity market - making things simpler, clearer and fairer. 

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