The Competition and Markets Authority has today (Friday) published the final report of its two-year Energy Markets Investigation, articulating issues around ensuring that the market works for all consumers fairly, transparency, and competitiveness in the market.
It proposes a range of remedies including greater protections for consumers on prepayment meters, improving competition in the small business market, and enhancing the role of Ofgem in reporting on the market and influencing governance.
Craig Salter, Energy spokesman for Citizens Advice Scotland’s Consumer Futures Unit, said:
“We welcome the outcome of the CMA’s investigation, and its intention to ensure that the energy market works for all consumers.
“Proposals such as the introduction of safeguard tariffs for consumers on prepayment meters represent a welcome step towards cutting bills for some of the most vulnerable consumers. In particular, we welcome the proposal to give consumers on restricted meters access to single unit rate tariffs, as well as greater support in terms of information and advice, as these are prevalent in Scotland. However, enhancements are still required to protect other vulnerable groups, and major concerns remain for those on expensive standard tariffs.
“The CMA are proposing a number of substantial and meaningful improvements to existing arrangements. Both Ofgem and the UK Government should carefully review the results of this investigation, and consider what tougher reforms may be implemented if the intended outcomes fail to materialise.”
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