Menu
06/10/2008
Ofgem Puts Industry On Notice To Make Markets Work Better For All
Ofgem has given the industry notice to end practices that are failing some customers, and to deliver the full benefits of competition to the entire market.
In its findings from a seven-month probe into the energy supply market, Ofgem was particularly concerned to see behaviour by supply companies that was hitting the 4.3 million customers without a gas supply, who have no access to the most competitive offers.
At the same time, the regulator has shown that competition is generating a wide range of tariffs and products. There is strong consumer awareness of - and satisfaction with - switching. And Ofgem found no evidence of an energy supply market cartel.
Ofgem's report builds on the regulator's commitment to help vulnerable customers through initiatives such as the Fuel Poverty Action Programme and Ofgem's Consumer First programme.
Ofgem's probe uncovered concerns in the small business supply market over unfairness in contract terms. The regulator's proposed actions include specific measures to guard against sharp practice in this part of the market.
Proposed actions in the wholesale market
Ofgem Chief Executive Alistair Buchanan said: "These are hard times and we are taking a hard line on behalf of disadvantaged consumers. We accept that global influences are pushing up costs but the suppliers must change their behaviour and cement consumer confidence. If they fail to satisfy our requirements voluntarily then we can move to a Competition Commission reference.
"Initial findings from our energy market probe give us grounds to demand that companies end practices that hinder customers, especially the vulnerable, from getting the best deal. But we have found no evidence of a cartel."
The report marks the start of a consultation on Ofgem’s findings and proposals that closes on 1 December.
(CD/JM)
In its findings from a seven-month probe into the energy supply market, Ofgem was particularly concerned to see behaviour by supply companies that was hitting the 4.3 million customers without a gas supply, who have no access to the most competitive offers.
At the same time, the regulator has shown that competition is generating a wide range of tariffs and products. There is strong consumer awareness of - and satisfaction with - switching. And Ofgem found no evidence of an energy supply market cartel.
Ofgem's report builds on the regulator's commitment to help vulnerable customers through initiatives such as the Fuel Poverty Action Programme and Ofgem's Consumer First programme.
Ofgem's probe uncovered concerns in the small business supply market over unfairness in contract terms. The regulator's proposed actions include specific measures to guard against sharp practice in this part of the market.
Proposed actions in the wholesale market
Ofgem Chief Executive Alistair Buchanan said: "These are hard times and we are taking a hard line on behalf of disadvantaged consumers. We accept that global influences are pushing up costs but the suppliers must change their behaviour and cement consumer confidence. If they fail to satisfy our requirements voluntarily then we can move to a Competition Commission reference.
"Initial findings from our energy market probe give us grounds to demand that companies end practices that hinder customers, especially the vulnerable, from getting the best deal. But we have found no evidence of a cartel."
The report marks the start of a consultation on Ofgem’s findings and proposals that closes on 1 December.
(CD/JM)
Related UK National News Stories
Click here for the latest headlines.
05 July 2005
Energy firms ordered to improve their billing
Energy suppliers must improve the way they bill their customers within a year or face regulatory action, industry regulator Ofgem has warned. Ofgem has ordered suppliers to stop ‘back-billing’ – failing to supply a bill and then charging customers the full amount at a later date - beyond two years. This would be reduced again to one year in 2007.
Energy firms ordered to improve their billing
Energy suppliers must improve the way they bill their customers within a year or face regulatory action, industry regulator Ofgem has warned. Ofgem has ordered suppliers to stop ‘back-billing’ – failing to supply a bill and then charging customers the full amount at a later date - beyond two years. This would be reduced again to one year in 2007.
04 April 2013
Ofgem To Fine SSE £10.5m
Ofgem has announced it will fine energy company SSE as much as £10.5m for misselling. The energy watchdog said it would fine SSE for "numerous breaches of its obligations relating to telephone, in-store and doorstep sales activities".
Ofgem To Fine SSE £10.5m
Ofgem has announced it will fine energy company SSE as much as £10.5m for misselling. The energy watchdog said it would fine SSE for "numerous breaches of its obligations relating to telephone, in-store and doorstep sales activities".
18 September 2008
Competition Rules To Change For Banking Merger
Legislation is to be modified to make-way for one of the biggest banking mergers in recent times. The Chancellor has confirmed the Government will amend current competition laws to allow the merging of Lloyds TSB and HBOS. Alistair Darling said the move would go ahead in the interest of UK financial stability.
Competition Rules To Change For Banking Merger
Legislation is to be modified to make-way for one of the biggest banking mergers in recent times. The Chancellor has confirmed the Government will amend current competition laws to allow the merging of Lloyds TSB and HBOS. Alistair Darling said the move would go ahead in the interest of UK financial stability.
24 October 2008
Ofgem Launches 'Energy Best Deal'
Energy regulator Ofgem has launched Energy Best Deal, a campaign to empower low income customers with the information to help them make the most of the energy market. The campaign has been devised by Ofgem and Citizens Advice and has been funded by the Department for Energy and Climate Change (DECC).
Ofgem Launches 'Energy Best Deal'
Energy regulator Ofgem has launched Energy Best Deal, a campaign to empower low income customers with the information to help them make the most of the energy market. The campaign has been devised by Ofgem and Citizens Advice and has been funded by the Department for Energy and Climate Change (DECC).
02 April 2015
E.On To Pay Additional £7m For Overcharging
E.On, one of the UK's 'Big Six' energy suppliers, is to pay an additional fine of more than £7m for overcharging its customers. The company will have to pay a penalty of £7.75m after incorrectly charging exit fees and/or overcharged its customers, following price increases. The fine is in addition to £400,000 E.
E.On To Pay Additional £7m For Overcharging
E.On, one of the UK's 'Big Six' energy suppliers, is to pay an additional fine of more than £7m for overcharging its customers. The company will have to pay a penalty of £7.75m after incorrectly charging exit fees and/or overcharged its customers, following price increases. The fine is in addition to £400,000 E.
-
Northern Ireland WeatherToday:Any fog and low cloud burning off this morning. Then sunny intervals with a few showers breaking out this afternoon, these mainly across southern counties. Warm. Maximum temperature 21 °C.Tonight:Any showers dying out this evening. Then the rest of the night will be dry with variable amounts of cloud. Low cloud and fog developing in the early hours. Minimum temperature 10 °C.
