Announcement

Edward Davey comment on Ofgem announcement on liquidity reforms

This news article was published under the 2010 to 2015 Conservative and Liberal Democrat coalition government

Commenting on this morning’s Ofgem announcement on its liquidity reforms, Energy and Climate Change Secretary Edward Davey said: “I welcome…

Commenting on this morning’s Ofgem announcement on its liquidity reforms, Energy and Climate Change Secretary Edward Davey said:

“I welcome Ofgem’s proposals and the momentum that is building behind badly-needed reforms of our energy market. Consumers will get the best deals when suppliers face tough competition and that is what both Government and regulator are working to achieve. Right now only six big companies have 99 per cent of domestic customers - energy bill payers in this country need more and better choices.

“We’ve cut red tape for small suppliers to give them a leg up into the market, and we are also working with Ofgem to deliver clearer bills and simpler tariffs. We have strengthened Ofgem’s own hand by making it harder for energy companies to block licence changes, and we are looking at beefing up Ofgem’s powers further to ensure fairer outcomes for consumers.”