Suggestion price cap will fix energy market is red herring, says Uswitch
Commenting on the inclusion of an energy price cap pledge in the Conservative party manifesto, Richard Neudegg, Head of Regulation at Uswitch.com, says: “Energy bills are too high for many customers, but the suggestion that a price cap will fix the market is a red herring. Today’s pledge will ultimately kill competition, push up energy prices and leave consumers worse off.
“The CMA conducted a thorough investigation and offered a raft of practical measures to help boost competition and lower bills. Government should instead fully implement these remedies and give them time to succeed.”
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