Energy UK responds to Ofgem's energy price cap proposals
Responding to Ofgem’s announcement, Energy UK’s Chief Executive Lawrence Slade said:
“There are over 70 suppliers in the energy market who will now be assessing how this impacts their individual business, however for many suppliers this will pose a significant challenge. It is crucial that the cap ensures we have an investible energy sector where efficient and financially robust companies can trade, and innovation and engagement can continue to flourish and deliver benefits for consumers.
“The energy sector is undergoing a rapid transition offering more choice than ever - and many customers will be able to make a bigger saving by joining the record 1 in 6 customers who switched last year. Energy efficiency is the most effective way to help customers save money on their energy bills for the long term and Energy UK has long been calling for a national energy efficiency programme, which was recently supported by the National Infrastructure Commission.”
“In the meantime the energy industry continues to drive through changes to ensure the market works for all consumers, from fast switching, improved customer service and additional protection for the most vulnerable.”