Energy UK comments on Ofgem's market review

Thermostat
Published on Friday, 19 October 2012 14:54
Posted by Vicki Mitchem

Angela Knight CBE, Chief Executive of Energy UK comments on Ofgem's energy retail market reform proposals:

"This is a tough set of proposals from Ofgem. The industry is already addressing a number of the issues at hand, with reductions in the number of tariffs and initiatives to make tariffs simpler and to make bills clearer.

We will now be working through the details to make sure that any resulting changes are in the best interests of our customers. In these difficult financial times, it's more important than ever that people feel confident about choosing the best deal for them.

Companies have been listening to their customers, and responding, but there is work still to do, and it is clear the industry will be under the microscope as Ofgem's new Standards of Conduct are introduced. We are committed to working with the regulator, Government, and consumer groups in the months ahead to improve consumer engagement and trust in the market.

It is time now for an open and honest debate about the difficult challenges ahead - to ensure we keep the lights on in Britain, while generating cleaner energy and keeping bills as low as possible. As Ofgem's proposals and the Energy Bill are debated, clarity of plans and certainty of proposals will be essential, as well as open consultation and decision-making that is grounded in facts and evidence.

Investors will require confidence in our policy and regulations if we are to attract to Britain the £150 billion of investment in energy that is needed in the next decade, to boost economic growth and add to the 600,000 already employed in the sector."

Source: ©Energy UK

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