Ofgem’s video to help consumers better understand energy reforms

Ofgem has launched a new video today to help consumers better understand how its reforms can help them get a better deal on their energy bills. The video shows step-by-step […]

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By Priyanka Shrestha

Ofgem has launched a new video today to help consumers better understand how its reforms can help them get a better deal on their energy bills.

The video shows step-by-step changes such as reduction in the number of tariffs and the new rules on honesty and transparency which suppliers must follow so customers are treated fairly.

The reforms to make the energy market simpler, clearer and fairer came into effect last year but is ongoing as further changes are due in April.

Ofgem CEO Andrew Wright said: “Consumers are already benefiting from our reforms to make the market simpler, clearer and fairer and this video brings to life just how these changes can help bill payers across Great Britain.

“Switching rates at the end of 2013 were at the highest ever. However, we want all energy customers to understand that it is getting much easier to get a better deal on energy bills. This is important as people who have never switched can save up to £200, just by switching supplier.”

The next stage of Ofgem’s energy market reforms will focus on making the information provided by energy suppliers clearer for consumers. Bills and annual summaries will be improved to provide customers with information that will help them understand their current tariffs and compare it with others available in the market. They will also get details of the cheapest available tariff if they choose to stay with their current supplier.