Alex Neill, Which? Managing Director of Home Products and Services, said:
“The introduction of a price cap has been inevitable since the CMA inquiry failed to stop those who are often least able to afford it from being ripped off with sky-high energy prices.
“The game is now up for energy companies, they must not repeat past mistakes by using this cap as an excuse for their shoddy service and bad deals.
“Action will now need to be taken by all, so that when the cap is eventually lifted this broken market is a thing of the past and all energy suppliers finally compete for customers by efficiently delivering better service and fair prices.”
Notes to editors
- In October 2017, Pete Moorey, Which? Director of Advocacy and Public Affairs, gave evidence at the BEIS select committee hearing on the price cap.
- Customers looking for cheaper energy deals can compare deals with Which? Switch, a transparent and impartial way to compare energy tariffs and find the best gas
- A £305 saving is based on a medium user (using Ofgem averages of 3,100 kWh electricity and 12,000 kWh gas per year, paying by monthly direct debit, with paperless bills), switching from the priciest Big Six SVT (Npower) to the cheapest deal on the market. Data is from Energylinx and correct on 1st Feb 2018. Prices are averaged across GB.