In response to Ofgem’s Retail Market Review announcement, Which? executive director, Richard Lloyd, said:
“In a week when the regulator has warned of rising bills for years to come, this is a welcome step towards a simpler energy market that is better for consumers. But more must be done to keep costs under control for hard-pressed households who already say spiralling energy prices are their top financial concern.
“These moves will help people to get a better deal from their existing supplier but do not go far enough to increase competition and keep prices in check. Switching looks set to remain low as people will still struggle to easily spot the cheapest deal on the market so the Government must go further and require all suppliers to use a single unit price.
“If the outcome for consumers has not improved by 2015, Which? wants the Government to take a further step and guarantee a fair price for people that are put on the default tariff.”
Which? wants to see more radical solutions to deliver a fairer deal for consumers including:
- The introduction of a single unit price so that energy prices and new deals can be easily compared at a glance – just like they are on petrol forecourt displays – allowing people to find the best deal with ease;
- Changes to improve the switching process, including cutting the time it takes to switch, to make it quicker and easier for consumers to move to a better deal; and
- For energy companies to make all tariffs available across all payment methods.
- If the outcome for consumers has not improved by 2015, Which? wants the Government to reserve the right to take a further step and guarantee a fair price for people that are put on the default tariff.