Tories outline plan to reduce energy bills for families and increase competition in the sector

A programme which aims to increase competition in the energy sector while reducing families’ bills has been launched. The plan from Chancellor George Osborne and the Business Secretary Sajid Javed, […]

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By Jacqueline Echevarria

A programme which aims to increase competition in the energy sector while reducing families’ bills has been launched.

The plan from Chancellor George Osborne and the Business Secretary Sajid Javed, sets out steps the government is taking to secure rising living standards and create competitive business conditions for firms.

The scheme, ‘A better deal: Boosting competition to bring down bills for families and firms’, will make switching energy supplier easier for customers, open markets and create new services in the water sector.

It will also reduce the cost of energy for families.

Chancellor George Osborne said: “This broad package of reforms will make markets work better for families. Driving competition will improve choice for people and ensure they get a better deal and cutting red tape will help businesses grow and thrive.

“It’s the government’s responsibility to help foster the right conditions for competition and investment across the UK – that’s why the concrete steps we’re announcing make sure government, regulators and local authorities all play their part in promoting competition and removing market distortions.

“‎It’s all part of our long-term plan to boost productivity and make the UK the most prosperous and secure of any of the major economies of the world.”

Energy and investing in its infrastructure was a substantial part of last week’s Spending Review.