Ofgem’s price control ‘heading in the right direction’

Ofgem’s current price control model is heading in the right direction. That’s the view of Alistair Buchanan, Chairman of UK Power and Utilities at KPMG who believes the RIIO framework (Revenue, Incentive, Innovation and Output) is pushing towards more innovation and more incentives. RIIO, which was initially spearheaded by Mr Buchanan when he led Ofgem for 10 years, sets […]

Ofgem’s regulatory framework to be reviewed

Ofgem has announced it will review its regulatory framework to meet consumers’ needs and boost innovation. It aims to make the retail energy market regulation flexible enough to allow consumers to benefit from innovation in the UK’s energy market. The regulator stated it will rely more on principles and less on “prescriptive” rules to manage the changes […]

Survey shows consumers have little trust in energy suppliers

Consumers still have very little trust in their energy suppliers, a new survey has revealed. Asked ‘who would you most trust to advise you on reducing your water/energy consumption’ most of the 1000 people surveyed replied either their local council or an online comparison site, with 33% of the vote each. Just 12% said they […]

Energy firms ‘still struggling’ to give correct prices

The standard of energy company telesales has improved since last year, however, suppliers are “still struggling” to give the correct details of the cheapest deal over the phone. That’s according to a new survey by consumer body Which? in it they revealed they were offered the  cheapest tariff in 93% of the calls they made […]

Consumers “outraged” by energy profits

Despite having some of the lowest bills in Europe, the majority of UK consumers are still not happy with their treatment by the energy companies. Recent research from a report by market research agency YouGov SixthSense has found that 84% of UK consumers felt energy suppliers made maximum profit at the expense of customers. More […]

Energy debt on the up as a result of increasing fuel bills

Energy debt is on the up, according to consumer action group uSwitch. An annual study shows that customers owe more this year than last, at £131 on average. Ann Robinson, Director of Consumer Policy at uSwitch said: “With households still struggling to absorb last year’s price hikes, energy debt is on the rise again. “Although […]

Simpler tariffs welcomed by consumers

Ofgem research claims that their proposed reforms will be welcomed by the consumer. The research looked at three factors: how consumers would behave when faced with a standing charge set by Ofgem (a daily price with energy used paid extra); a single unit rate (the same price for peak and off-peak) and comparison information in […]

British Gas price rise adds to lack of trust

Consumer Focus have said British Gas’s recent 18% price rise will push hundred of thousands of households into fuel poverty. Unless Ofgem step up with strategic measures to make energy pricing fair, the market will continue to fail the consumer. Mike O’Connor CBE, Chief Executive of Consumer Focus said: “Consumers simply don’t trust that energy […]