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Gocompare.com comments on Ofgem’s new rules to encourage competition in the energy market

26 February 2014

Commenting on Ofgem’s new rules to make the trade of wholesale power fairer, which will take effect from 31 March, Jeremy Cryer, energy spokesperson at Gocompare.com, said:

“Increased competition in the energy market can only be a good thing for consumers, increasing choice and encouraging suppliers to offer attractive rates for gas and electricity. We welcome Ofgem’s new rules to ensure that the UK’s largest suppliers and generators trade fairly with smaller providers and hope that they will go some way to loosening the big six’s stranglehold on UK homes.

“In a recent survey, we found that even though 29% of people expect to switch away from their current big six supplier in the next three years, 17% would not be happy to move to a smaller provider. This is due to general distrust of all energy companies, resulting in 12% of people we asked saying that they’d never switched their provider or tariff.  As such, we support any steps that will give people the confidence to shop around and switch to a better deal get.*

“While the regulator continues to develop measures to make energy bills less complex and improve energy companies’ processes, householders also need to be proactive when it comes to taking charge of their outgoings. Go to a comparison site armed with your latest bill and compare the tariffs available to find the best one for your energy consumption, location and circumstances. Your gas and electricity comes through the same wires and pipes no matter who you buy it from, so make sure you’re not paying over the odds unnecessarily.”


Notes to editors:

*Based on research commissioned by Gocompare.com and carried out by Consumer Intelligence on 13 and 14 December 2013 with 2,016 UK adults who are customers of the ‘big six’ energy suppliers (British Gas, ScottishPower, E.ON, npower, EDF, and SSE).

Region, age and gender breakdowns of the survey results are also available.