Which? response to Centrica trading update

Which? executive director, Richard Lloyd, said:

“This latest news is yet another example of why we need much more transparency in the energy market. With inflation busting price hikes and eye-watering profits, it’s no wonder less than a quarter of people trust the industry and rising energy prices consistently remain one of consumers’ top financial worries. With a big leap in gas use over the winter, huge  numbers of people will be shocked by their next bill.

“Ofgem’s recent proposals for simpler tariffs don’t go far enough to keep prices in check. The Government should take more radical action to provide not just simpler but fairer bills. Prices will only be kept as low as possible if there is more effective competition, easier switching between energy companies and every tariff presented in a clear, consistent and simple way so people can easily spot the cheapest deal.”

Statement