Business energy providers could be affected by Ofgem review

Fix energy prices until 30th September 2017

Looking to switch your business energy supplier? Click here

Use our OFGEM accredited comparison tool to compare the whole market today.

Business energy providers could be affected by a "radical overhaul" of customer service put forward by Ofgem, the consumer watchdog for the industry.

Part of the reforms will be reducing the market share of the big six - EDF, British Gas, Scottish Power, E.ON, npower and Scottish and Southern energy - by making them auction off up to 20 per cent of their sources to smaller providers.

The organisation's chairman, Lord Mogg, called the plans "a holistic package of changes", explaining that suppliers have eight weeks to comply or they will risk facing the Competition Commission.

Consumer Focus's chief executive Mike O'Connor welcomed the decision and described companies as being "on a very short leash". He added that the public's confidence in the sector is low compared with others.

Furthermore, prices will have to be simplified and practices become more transparent for the consumer, so that it makes it easy to compare energy bills. 

Ofgem has set a deadline of June 1st for the industry to respond to its proposals.

Posted by Richard Eden 

Click here to run an energy price comparison, and see if you could be paying less for your gas and electricity.

Found this page interesting?

Help spread the word and share this page with your friends and family on your social networks.