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Uswitch comments on final CMA energy market report

Commenting on the publication of the Competition and Markets Authority’s final energy market investigation report, Richard Neudegg, Head of Regulation at Uswitch.com, says: “The CMA’s package of remedies should help more consumers engage in the energy market, boost competition and reduce bills. It’s taken two years to get here, so it’s vital that no time is wasted putting these remedies into action. Customers shouldn’t have to endure another winter of rationing their heating just to make ends meet.

“Ofgem recently started to relax some tariff restrictions and, as a result, we have already started to see the launch of exclusive, market-leading and innovative energy deals – the initial green shoots of what the CMA is aiming for. Today’s package of measures, when fully implemented, should see even more competitive tariffs and improved choice for consumers in future.

“The introduction of a temporary prepayment safeguard price control will help some of the most vulnerable, but a well functioning, competitive prepayment market should be the ultimate aim. Many low income families, elderly and disabled people pay for their energy by other methods, however, and so the Government must increase funding for the Warm Home Discount scheme, and extend it to include all energy suppliers, to help more of those in need.

“We believe the CMA’s proposed database of disengaged customers is well intentioned but it must not be allowed to lead to consumers being inundated with unsolicited marketing material from multiple suppliers. We urge Ofgem to properly trial and test the content and frequency of marketing communication and ensure that strong data protections are in place.

“The impact of the final remedies on prices, engagement and market competition must be properly evaluated as they’re implemented. Switching rates – one strong indicator of competition – are rising but are almost half the levels seen in 2008. An ambitious, but achievable, switching target of 25% by 2020 should be set between suppliers, alongside targets for customers changing to better tariffs with their current supplier. This will help ensure the final remedies lead to a better energy market for consumers.”

FOR MORE INFORMATION

Jason Wakeford

Phone: 0203 872 5612

Email: jason.wakeford@uswitch.com

Twitter: @UswitchPR

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