SSE boss admits energy industry needs to accept stronger regulation

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The chief executive of SSE has stated that the energy industry needs to embrace proposed market reforms and accept tougher regulation.

Alistair Phillips-Davies made the comments whilst speaking at the Energy, Politics and the Consumer event organised by Cambridge University and YouGov.

Speaking at the event in London, Mr Phillips-Davies stated: "As privatised utilities, we should always view with humility the regulatory, political and public scrutiny on our activities.

"We all have to acknowledge that energy is not perfect and we have to look at reforms that benefit the customer."

He then went onto add: "A market reference (investigation) should provide a platform for achieving greater political and regulatory stability for the Great Britain energy market, for the benefit of customers. It must therefore be broad enough."

One of the big six energy suppliers, SSE recently froze its energy prices until 2016.

Market research company, YouGov, also used the event as an opportunity to highlight the disaffection amongst energy customers, displaying the results of its recent survey.

Its poll of 2,000 adults displayed that customer satisfaction levels had hit a lower level than with banks.

More than a quarter of those who participated in the survey stated that they strongly believed the big six had failed to act in the best interest of consumers and society. And more than half stated that they had been forced to turn their heating down or off in order to keep bills at an affordable level.

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