Ofgem announce new energy tariff proposals - we'll see if they actually happen though...

gas_meter REVOLUTION! Ofgem has announced some proposals that will make energy-buying nightmares a thing of the past. They’ve said that they are going to make the gas and electricity market ‘simpler, clearer and fairer’, but the industry itself has described the proposals as ‘challenging’. FIGHT! FIGHT! FIGHT!

Plans include showing the cheapest tariffs on bills, the banning of complex multi-tier tariffs, new personalised information to help consumers find their best deal, and ensuring customers default to the cheapest option at the end of fixed-term contract. Ofgem are proposing that suppliers are limited to no more than four core tariffs for each fuel, hopefully doing away with the confusing jungle of price plans that exist at the moment.

Ofgem chief executive Alistair Buchanan is pretty full of himself, and said: "Our plans will put an end to consumers being confused by complex tariffs and will usher in a simpler, clearer, fairer and more competitive energy market for all consumers. I am glad to say that suppliers have already responded with some initiatives, but these do not go far enough."

How much of this actually happens and how long it all takes remains to be seen…

What do you think?

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