Ofgem bans 'unjustified energy pricing'
Published on : 23/03/2009
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Consumers across the UK could be set to benefit from new regulations introduced by Ofgem to ban "unjustified" pricing of gas and electricity.
Following an investigation by the industry regulator into the pricing systems used by the big six energy suppliers, it has launched a range of new proposals aimed to help consumers get the best gas and electricity deals.
Under the new regulations, prices for different payment methods will have to reflect costs incurred by the supplier of providing the option.
Energy providers must also produce an annual statement for customers and make information relating to cheaper tariffs available to allow consumers to switch supplier easier.
Alistair Buchanan, chief executive of Ofgem, said: "This is an emphatic move by Ofgem to clear the decks of obstacles that prevent consumers from getting access to the best offers."
Ofgem recently claimed that customers want energy suppliers to communicate better with them in order to help save money.
