Ofgem Calls On Energy Suppliers To Take Action To Restore Consumer Trust

Government regulator for electricity and gas, Ofgem, has called on energy suppliers to "take action" to help rebuild consumer trust in the UK enery market.

Ofgem is currently working on a number of reforms to reduce confusion amongst consumers and make it easier for them to determine and pick out the best energy deal, with more options to choose from.

Andrew Wright, interim chief executive at Ofgem, has urged the suppliers to use the regulator’s Retail Market Review reforms as a “golden opportunity to win back consumer trust”.

He said: “Consumers are frustrated and angry that the latest round of price rises have happened at a time when incomes are already being squeezed.

“Consumer confidence in the energy market is very low and suppliers must use our reforms to reach out to consumers and restore trust in the sector.”

Wright added that customers could save up to £200 on their energy bills by changing supplier and that the four tariff cap per fuel “will make it far easier for consumers to pick the best deal for them”.

He also said: “The reforms give consumers the choice they value and the simplicity they need, but it is now for suppliers to get behind not just the letter of the reforms but the spirit as well.

“We will be watching suppliers’ actions very closely and have already committed to report on the health of the market next year, working with the Competition and Markets Authority and the Office of Fair Trading.” (Source: www.utilityweek.co.uk)

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