Posted on: 12/07/2016
The remedies put forward for the energy market by the Competition & Markets Authority (CMA) have come under fire.
Speaking at the House of Commons’ Energy & Climate Change Committee’s hearings into the remedies, GB Energy Supply Chief Executive Luke Watson criticised the CMA’s recommendation to remove the “whole of market” requirement from price comparison websites.
Committee Chair Angus MacNeil added: “This will lead to further consumer distrust of the whole edifice around energy.”
But Roger Witcomb, Chair of the CMA's energy market investigation panel, argued that Citizens Advice already provided a whole of market price comparison and that other websites should be allowed to negotiate cheaper deals with energy suppliers.
Prepayment meter criticisms
In written evidence to the committee, independent energy supplier Utilita criticised the CMA’s plans to introduce a price cap on pre-payment meters.
The company argued that such a cap would damage competition.
Its concerns were echoed by a group of economists, who also wrote to the committee to provide a series of critiques to the CMA’s remedies.