Business energy to benefit from Ofgem rule?
Business energy customers may be pleased to know that a new rule has been introduced to benefit consumer interests.
Ofgem has announced that companies must give at least 30 days notice before putting up prices or making changes that may negatively affect the service people receive.
The new rule will come into effect on April 28th and will alter the current guidelines, which state that energy firms are allowed to inform customers of price increases up to three months after they have been enacted.
Andrew Wright, the organisation's senior partner for markets, asserted: "Today's changes will again show that we are serious about making sure suppliers play it straight with consumers."
Last week (March 21st), a report was published by the watchdog that proposed a myriad improvements to an industry it described as "failing" its clients.
At the time, Ofgem's chairman Lord Mogg said fuel providers had eight weeks to respond to the organisation's plans and suggested that the government may be consulted if necessary.
Posted by Jim Tidy
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