Reforming a funny business to keep prices as low as possible. The energy department (1) has asked Professor Dieter Helm to carry out a review of the costs of energy and recommend ways of keeping prices as low as possible. The review will seek “to sort out the facts from the myths about the costs of […]
Call to protect vulnerable AND loyal customers. Citizens Advice is calling for change in energy price policy. In spite of a fall in wholesale costs this week’s British Gas price rise is just one more illustration that the energy supply market isn’t working. In this market it’s not surprising that CA and others have focused on the problems of vulnerable customers. It’s true the government and companies have […]
Ofgem proposes extra help for vulnerable customers. Energy regulator Ofgem today published proposals* for a safeguard tariff for vulnerable customers “to protect them from overpaying for their energy”. It had been expected that the government would tell Ofgem to cap prices for all customers. The growing call for such a cap followed the Competition and Markets Authority’s report in 2016 […]
Compare prices and star ratings. How much could you save? Citizens Advice has released an online price comparison tool allows customers to compare energy suppliers. It uses a 1 to 5 star rating system with stars awarded on a combination of factors: Complaints – how well they handle customer complaints Ease of switching – how many switches they carried out successfully in 21 days […]
Early election debate. A proposal to cap the energy bills of households on standard variable tariffs has caused an early campaign kerfuffle. Last year the Competition and Markets Authority (CMA) said customers were being overcharged by an astonishing £1.4 billion a year. The current debate is about whether a cap on prices would be counter-productive. The CMA, the industry and some consumer groups think it would stop […]
Prepayment cap should be first step. Ofgem, the energy regulator, has announced a prepayment meter price cap effective in April. Typical customers should save around £80 a year. Good news that will stop some of the poorest households paying more than they should. But not enough to stop the majority of energy customers paying more than they should. As Citizens Advice points out, the […]
David Mitchell hasn’t got it. “Everyone should shop around for gas and electricity.” At the last count to the frustration of the government, Ofgem, the industry, most consumer groups and high-profile advocates 66% of us hadn’t got the message. Comedian and writer David Mitchell is one. In today’s Observer newspaper he brings his familiar style to the awkward question that apparently […]
Ofgem’s new data. The energy regulator today launched a fresh attempt to improve the transparency of gas and electricity prices and persuade more customers to switch suppliers. Ofgem issued information about the Standard Variable Tariffs of the biggest companies and the customers who pay those tariffs. For each company they show: the number of its customers paying SVTs; the proportion of customers on SVTs; and data about average prices and potential […]
Longer-term solution needed. Good news. One by one the Big Six energy suppliers are announcing a freeze on standard tariffs until Spring next year. Citizens Advice says savings made when wholesale prices were lower are being used to help customers – it’s now time for firms who haven’t announced to make their intentions clear*. Gillian Guy, national chief executive of Citizens Advice, said: “A […]
Supply not affected. The news that GB Energy Supply has gone out of business shouldn’t worry the company’s customers. The energy regulator Ofgem is finding a new supplier who will contact them in due course. Customers should take a reading of their gas and electricity meters for the new supplier. Citizens Advice is working with Ofgem to make sure […]