Ofgem’s announcement today that it intends to boost competition in the electricity market by increasing both liquidity and transparency is welcome news, says Uswitch.com.
Ann Robinson, Director of Consumer Policy at Uswitch.com, says: “This is exactly the shot in the arm that the competitive market needs if it is to start working effectively for consumers. Today’s move should pave the way for new suppliers to come into the market, creating more choice and competition, which should ultimately translate into lower prices for consumers.
“Greater transparency should also lead to greater consumer confidence and reassurance that the price people are being asked to pay is fair. At the moment it is very difficult for anyone to be certain one way or another because forward pricing has been so opaque. These steps should see competition shift up a gear and then we will really be able to see exactly what it can deliver for hard-pressed consumers.”
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Uswitch is the UK’s top comparison website for home services switching. Launched in September 2000, we help consumers save money on their gas, electricity, broadband, mobile, TV, and financial services products and get more of what matters to them. Last year we saved consumers over £373 million on their energy bills alone.
Uswitch is part of RVU, a new business that also owns Money.co.uk and Bankrate.
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