New 30-day rule from Ofgem

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As from today electricity and gas providers must now give consumers at least 30 days notice before they plan to change their prices thanks to a new ruling by energy regulator Ofgem.

This will come as good news to the consumer as it will allow customers to search and compare energy prices to get the best deals on the market if their current suppliers raise prices too high, according to a report from the BBC.

Ian Marlee from Ofgem spoke to BBC Radio 5 live:, he said: "Consumers will now have at least 30 days advance notice of any price rise.

"60% of energy consumers report never having switched supplier at all. It's about increasing competition and transparency in the market."

Previously energy suppliers were able to change customers prices and not have to inform the consumer until up to three months after the change, which then left the consumer with 20 days to opt out.

Hannah Mummery, an energy expert, said: "People clearly need to be given fair warning if prices are going to go up, not told months after the event.

"The challenge now is for energy firms to deliver the changes needed to make switching work for consumers and give them confidence that they're being asked to pay a fair price. The regulator must keep the pressure on until they do."

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