Which!!! calling for independent review of energy market, again

17 October 2012

EnergySo frequently are Which!!! calling for reviews of things, it is impossible to keep up. Or interested. That said, here we are, looking at the consumer group shouting at the energy market and demanding an independent review, if the Government wouldn't mind.

In an open letter to David Cameron, Which?!?! said the Government should face up to the fact that the energy market is "broken" and that people deserve to know the truth about recent price hikes.

Richard Lloyd, Executive Director of Which??!?!? said: "You said 'we are making energy companies be competitive' but there is little evidence of this. 75% of consumers are on the most expensive tariffs and the level of switching continues to decline. It’s time to face facts: the energy market is broken."

"People are questioning whether they are paying a fair price for their gas and electricity. The energy companies blame wholesale price increases but even the regulator has found that prices don’t fall when the wholesale price drops. The sector is dominated by a handful of big and powerful players who are seemingly unaffected by the normal competitive pressure of price and customer service."

"Until we see greater transparency and prices presented clearly, consumers will continue to distrust the energy market and remain unable to drive genuine competition through moving to the cheapest tariffs."

In response, a DECC spokesman said: "Households facing rising energy bills this winter aren't going to be helped by more inquiries or investigations that could take years to complete and implement. We know what the problems are, we want to get on with tackling them now. We’re focusing on action, not more words."

"The fact is, reforms by Government and Ofgem, including electricity market reform through the forthcoming Energy Bill and Ofgem's ongoing Retail Market Review, offer the quickest way to boost consumer confidence in the energy market. We have the Energy Bill due this autumn and Ofgem is due to move to the next stage of its review before winter. In the meantime we’re offering practical advice to households on how to get energy bills down and keep their homes warm."

FIGHTING TALK!

TOPICS:   Utilities   Motoring

6 comments

  • Spencer
    there is a way to bypass energy price rises. Get a prepayment meter from Ebico. They're non profit and will put you on a standard tariff pre-pay (which really isnt that bad as pre pay goes) When you buy credit they stick the card or stick into the machine which updates the calibration info which, when you get home and put into the meter - updates the rates. Say for arguement, 1 unit costs 10p. Well thanks to the latest price rises, the next time I buy credit the stick will be updated and tell my prepay meter to charge me 12p, and lo and behold when I get home and put my credit on... my meter gets updated and starts charging 12p. Quite simply, in August/September I buy my winter fuel in 1 hit. yeah it costs a few hundred quid in one hit, but it means I dont pay winter rates. And by the time it runs out in the spring, the energy companies lower their rates again. I did the math on it and it does save money - even when compared to a pay monthly tariff/meter. Just thought I'd share that with you all.
  • Avon B.
    I'm still on the toilet.
  • The M.
    It's so cute how you deride Which? at every opportunity, like a child trying to get a rise out of their grown up older brother who people treat as an adult.
  • Don't s.
    Stick a few more jumpers on and run around a lot which is only what which is doing
  • Spencer
    @Avon.... yeah it'll take a while to flush through.
  • Avon B.
    @ Spencer Thanks man.

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