Ofgem unveils energy reforms
Ofgem will today announced its final proposals for reforming the retail energy market, which plan to reduce and simplify the number of tariffs available for consumers.
Ofgem will today announced its final proposals for reforming the retail energy market, which plan to reduce and simplify the number of tariffs available for consumers.
We welcome today's announcement. Everyone wants a simpler more trusted market. There is a lot in this reform package that could bring that closer. Now Ofgem needs to get on and implement it and energy companies need to respond to the spirit of the reforms.
But it would be naive to assume that this will sort out the energy market once and for all. The market needs to earn consumer confidence. There are also areas where Ofgem needs to go further, which include making it much easier for customers to switch supplier.
There are still some crinkles in the reforms to be ironed out. However, Ofgem has delivered a strong set of reforms and now it is up to the industry to start to deliver.
The proof of this pudding will be in the eating though and we will all know that Ofgem has succeeded when growing numbers of households are able to use competition to get better value and cheaper energy bills.
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