The Competition and Markets Authority (CMA) has today announced that it is to extend its Energy Market Investigation timetable by a further two months. Its provisional decision on remedies is now expected in March rather than later this month, and the final report is now due in June rather than April this year.
Richard Neudegg, Head of Regulation at Uswitch.com, says: “While it’s essential that the CMA takes the time it needs to get this right, this further delay is disappointing news on a day when energy bills have been in the spotlight. With energy companies so far failing to step up to the mark and lower both gas and electricity prices to a level that adequately reflects the fall in wholesale prices, it’s high time this broken market is fixed once and for all. This brings into sharp focus why the CMA’s investigation is so crucial.
“While we wait for the outcome, it’s vital that consumers are given more confidence to get themselves off the overpriced standard plans and onto more competitive fixed deals. There are some remedies that Ofgem should be working on right now, such as improving overcomplicated bills and tackling ineffective annual statements.”
For more information visit www.Uswitch.com or call 0800 093 06 07
FOR MORE INFORMATION
Charlotte Nunes
Phone: 020 7148 4664
Email: charlotte.nunes@uswitch.com
Twitter: @uswitchPR
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