The British Secretary of State for Business, Energy and Industrial Strategy, Greg Clark, has called for the energy regulator Ofgem to use its power to impose an energy price cap, in spite of there being a risk of a legal challenge from some suppliers.
Independent research has shown that over the past month, five of the UK’s Big Six energy providers have increased prices for their cheapest tariffs by more than 15%.
Ofgem has responded to the CMA’s recent two year investigation into the energy market, and revealed their proposals including supporting the call for a price cap on pre payment meters.
The UK competitions regulator is set to drop a contentious claim that the Big Six energy providers overcharged customers by £1.7 billion a year in a report due to be released on Friday.
Energy and Climate Change Secretary, Amber Rudd, yesterday announced plans to work with both Citizens Advice and Ofgem to address the issue of poor customer service in the energy sector.
According to recent figures released by Citizens Advice, smaller energy companies are receiving some of the most complaints from customers across the UK, but what exactly does this mean?