Commenting on the inclusion of an energy price cap pledge in the Conservative party manifesto, Richard Neudegg, Head of Regulation at Uswitch.com, says: “Energy bills are too high for many customers, but the suggestion that a price cap will fix the market is a red herring. Today’s pledge will ultimately kill competition, push up energy prices and leave consumers worse off.
“The CMA conducted a thorough investigation and offered a raft of practical measures to help boost competition and lower bills. Government should instead fully implement these remedies and give them time to succeed.”
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