Ofgem plans final energy tariff reforms

Ofgem will today announced its final proposals for reforming the retail energy market, which aim to reduce and simplify the number of tariffs available for consumers.

The regulator has told suppliers to limit themselves to four "core" tariffs each for electricity and gas and for each type of payment, while all information suppliers send to consumers must be "simplified, more engaging and personalised".

Suppliers will use a new Tariff Comparison Rate (TCR), which the regulator claims will help to simplify the selection process for consumers.

And new enforceable standards of conduct will enable Ofgem to take action against suppliers where they have failed to treat customers fairly.

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