Posted on: 09/08/2016
Energy regulation Ofgem has outlined its plans to approach the remedies put forward by the Competition & Markets Authority (CMA).
The watchdog has launched a consultation on removing some of the 2013 Retail Market Review rules, which it hopes will give customers a broader choice of tariffs, with licence changes expected in early 2017.
It said it would assist the CMA in implementing its price cap for prepayment meters, which it said would run from 2017 to 2020.
Ofgem will also begin a trial next year of a database listing all of the customers who have not switched tariffs during the previous three years and give energy companies access to the information.
GMB calls for Ofgem to be abolished
Trade body Energy UK said: “Ofgem’s CMA implementation plan has rightly identified consumer engagement as being key to a competitive energy market.”
But Justin Bowden, National Secretary for Energy at the GMB trade union, said: “Here we go again with more Ofgem tinkering over the pretence that a free market is possible in this sector.
“Ofgem should be abolished and the UK Government itself should take over responsibility for regulating the industry so both are accountable to parliament.”
> Read Ofgem's response