The Sun comes out.
The UK’s biggest selling daily newspaper has launched a campaign for fairer energy prices.
It says seven out of ten customers are on standard variable tariffs – the most expensive kind. This means families are paying £6 billion more than they would on the cheapest tariffs.
The Sun wants suppliers to automatically transfer loyal customers to cheaper deals.
In July 2015 the Competition and Markets Authority (CMA) reported provisional findings on the energy market. It said it was going to look at this kind of automatic help. It called it a “transitional price cap on the most expensive tariffs” until the market became more competitive. When the final CMA report came out in March this plan had been DROPPED.
No wonder The Sun is cross.
Citizens Advice Chief Executive Gillian Guy, quoted by the paper said:
“Energy firms have been ripping off their customers for too long……They could also narrow the gap between the cost of a standard variable tariff and lowest-priced deal.”