The energy market isn’t broken but does have a problem with engagement.
That’s according to Lawrence Slade, Chief Executive of Energy UK, who spoke to ELN at the industry body’s Annual Conference yesterday.
He said because of the lack of consumer involvement, the market wasn’t working for everyone, adding the industry needs to reach out better and get disengaged customers onto a good deal that works for them.
He said: “I don’t think industry should take its foot off the accelerator. I think we should put our foot on the accelerator, let’s keep changing, let’s keep innovating and actually make the market work.
“Let’s actually make it to the point where the price cap’s not needed.”
Mr Slade also suggested the roll-out of smart meters would go a long way to helping solve this problem by improving transparency and providing a direct line of communication into customer’s homes.