An energy supplier league table is to be published to increase transparency on the numbers of people on expensive standard variable tariffs.
- new measures to help more households benefit from the UK’s competitive energy market
- energy supplier league table to be published – instantly showing consumers where they can save money
- government to ensure customers can access their energy usage data and share this securely with price comparison websites to make switching easier
For the first time an energy supplier league table is to be published to increase transparency on the numbers of people on expensive standard variable tariffs, Business and Energy Secretary Greg Clark announced today (14 December 2016).
Published by Ofgem, it will compare the average energy bill paid by someone on a standard variable tariff for the larger energy companies with the deals available from the 10 cheapest suppliers, giving consumers the information they need to switch and save.
As part of ongoing work to ensure all consumers are treated fairly and get the best deal from their energy suppliers, the government is also launching a call for evidence on implementing better access to customers’ energy use data to make switching easier and ensure families get the best deal for them.
This will ensure bill payers can access accurate electronic data on how much energy they use and share this securely with price comparison websites to help them tailor quotes to individuals, based on their actual energy use. It will also help consumers identify with greater accuracy the money they could save by switching.
Business and Energy Secretary Greg Clark said:
Millions of people across Britain continue to pay too much for their energy. The measures announced today are a positive step to help more people benefit from increased choice and competition.
As the government has made clear, where markets are not working for consumers – in energy or otherwise – we are prepared to act.
Gillian Guy, Chief Executive of Citizens Advice, said:
This league table will lift the lid on the price difference between standard tariffs and cheaper deals, helping those customers who are currently paying over the odds for their gas and electricity identify a better rate. We’d also like to see energy companies do more off their own back to help customers who are on a low income, like moving them to a cheaper deal.
Today’s announcement builds on other measures to encourage switching following the Competition and Markets Authority’s investigation – including cheaper deals being offered directly to long-standing customers on standard variable tariffs by other suppliers.
The Ofgem league table can be viewed on its website