Ofgem must ‘stick to it guns’ over energy market reforms
The UK's energy market has 'serious flaws' and consumers are paying the cost, according to Consumer Focus.
As Ofgem’s Retail Market Review draws to close, Consumer Focus today (June 7) demanded the regulator to ‘stick to its guns’ and drive through key reforms in the energy market.
Amongst a range of measures called for by Consumer Focus there should be a greater volume of energy auctioning to boost competition – a minimum of 20% should be auctioned.
The watchdog also called for simple and clear tariffs to be ‘the rule, not the exception’.
Consumer Focus has called for Ofgem to consider strengthening the standards of conduct required from energy firms, to better protect consumers from a ‘bafflingly complex array’ of products, termination charges and rollover contracts.
Commenting on the necessary changes to the energy market, Consumer Focus head of energy, Audrey Gallacher, said: “The goal of this review must be to improve value and service to consumers.
“The big challenge will be to gain the active and positive support of companies for reform.
“If Ofgem can’t achieve this or if companies fail to act on this agreement, as they did on the last probe, then they should seize the nettle and make a referral to the Competition Commission.
“Ofgem’s energy review revealed a swathe of problems in a market which every household in the UK has to use.
“The success of the review will be in Ofgem’s ability to drive through reforms which will provide a better deal for consumers.”