UK Energy Regulator Seeks Fairer, More Competitive Market
July 03 2017 - 4:17AM
Dow Jones News
By Ian Walker
LONDON--U.K. energy regulator Ofgem on Monday moved to protect
vulnerable consumers as it announced a range of plans designed to
deliver a fairer, more competitive market.
As part of the measures being considered, the regulator is
planning to cap the amount suppliers charge customers for
installing a pre-payment meter under warrant at 150 pounds ($195),
and to ban these charges altogether for the most vulnerable.
Pre-payment meters are typically installed under warrant for
customers who fail to pay their energy bills.
Ofgem also announced plans to make it easier for consumers to
switch to cheaper deals by changing the rules for price comparison
websites.
Currently, users can't switch directly to some of the cheapest
deals listed and have to visit the supplier's own website and
re-enter their details. Ofgem's rule change will give customers
better access to cheaper deals, allowing them to switch directly
from a price comparison site, it said.
Ofgem said it will also be trialing a new 'Check Your Energy
Deal' online switching service to help customers who have been on
poor value standard variable tariffs for three years or more to
find cheaper deals.
-Write to Ian Walker at ian.walker@wsj.com; @IanWalk40289749
(END) Dow Jones Newswires
July 03, 2017 04:02 ET (08:02 GMT)
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