Comparison website Gocompare.com comments on today’s final report from the Competition and Markets Authority (CMA) on reforming the energy market.
Ben Wilson, energy spokesperson at Gocompare.com, said: "The CMA has recognised the reality of the UK’s broken two-speed energy market, with an informed and confident minority switching for the best deals, but millions more not benefiting from some of the lowest energy prices in recent years. They have focused on some of the most vulnerable consumers in the energy market – those on prepayment meters and households that have been on standard tariffs for more than three years.
“While we welcome the CMA’s efforts to increase communication, competition and transparency in the market, it still comes down to consumers having to switch provider to get a better deal on their gas and electricity. Realistically, we know that not all consumers will do that and energy companies will still have very little incentive to move people off poor value standard variable rates.”
For more information see Gocompare.com's guide on switching energy supplier.
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