Energy Watchdog under fire from politicians and consumers for limp proposals to increase competition amongst Big Six firms
The Energy Watchdog was forced to defend itself today after its proposals to increase competition were slated by politicians and consumer groups.
Ofgem announced new rules from 31 March that will force the Big Six energy firms to give more details of how they trade electricity between their generator businesses and household supply arms.
They will also be required to publish wholesale prices in advance to make it easier for smaller suppliers to compete.
But Which? executive director Richard Lloyd said: “These measures only scratch the surface of the changes needed to bring competition to the market and to make it work for consumers.”
Meanwhile Labour's Energy Secretary Caroline Flint said: “Ofgem is tinkering around the edges with a whole host of complicated interventions which will be difficult to properly monitor and enforce.”
Labour has urged the introduction of rules to stop energy companies doing secret trades between the generation and retail parts of their businesses.
The Watchdog responded robustly to the charges. “For the Labour Party and Which? to dismiss Ofgem’s fundamental reforms is to misunderstand the barriers to competition that we have identified and are tackling,” It said, claiming: “Ofgem’s reforms go further than Labour’s proposals.”
- 1 Jeremy Clarkson 'sees no problem' with his racist language on Top Gear, says BBC
- 2 'Alien thigh bone' on Mars: Excitement from alien hunters at 'evidence' of extraterrestrial life
- 3 Richard Dawkins on babies with Down Syndrome: 'Abort it and try again – it would be immoral to bring it into the world'
- 4 London restaurant 34 creates champagne glass modelled on Kate Moss’ left breast
- 5 ALS ice bucket challenge co-founder Corey Griffin drowns, aged 27
Richard Dawkins on babies with Down Syndrome: 'Abort it and try again – it would be immoral to bring it into the world'
Scottish independence: English people overwhelmingly want Scotland to stay in the UK
Isis threat: Cameron wants an alliance with Iran
Michael Brown shooting: Chaos erupts on the streets of Ferguson after autopsy shows teenager was shot six times – twice in the head
Disgusting, frustrating, but intriguing: how the country really feels about its politicians
Bin bag full of cats' heads discovered near Manchester's Curry Mile
iJobs Money & Business
£30000 - £40000 per annum + benefits+bonus+package: Harrington Starr: C#.NET ...
£20000 - £30000 per annum + benefits+bonus+package: Harrington Starr: Junior D...
£550 - £650 per day: Orgtel: Business Analyst - Traded Credit Risk - Investmen...
£55000 per annum: Harrington Starr: A financial software vendor at the forefro...