Energy Choices

Energy Choices

November 25, 2009 04:57 ET

Good and Bad News for Consumers in New Energy Bill

LONDON, UNITED KINGDOM--(Marketwire - Nov. 25, 2009) - Energy Choices, one of the UK's leading energy comparison providers have reacted to measures outlined in a new Energy Bill, which was recently announced in the Queens speech. The Bill represents both good and bad news for UK consumers.

Among the Bill's proposals are measures to boost the power of the energy regulator, Ofgem, giving it new powers to be more proactive in protecting consumers and tackling market exploitation by providers. An existing voluntary agreement with energy companies also comes into force. This will see energy companies provide rebates to their poorest customers, funding for which will come from the providers, rather than the taxpayer.

The Government have also announced measures to promote carbon capture and storage (CCS) by introducing four commercial-scale CCS demonstration projects. Whilst this news will be welcomed by those concerned about the environment, it is to be funded by a 3% levy on energy bills, which will amount to around Pounds Sterling 12 extra on the average electricity bill.

This news comes in the wake of announcements from 2 leading electricity suppliers, British Gas and Scottish & Southern of record profits this year. Despite this, there haven't been any reductions in energy bills for consumers.

London-based Energy Choices was launched in 2005 and offers comprehensive and impartial advice on home energy services. Through the website energychoices.co.uk, consumers can compare gas and electricity prices and packages quickly and easily, in order to find the best deals. Visitors also benefit from a host of energy saving hints and tips, to help them save even more money.

A spokesperson for the company commented on this news by saying:

"The Energy Bill demonstrates some positive moves towards more environmentally-friendly means of energy production, as well as protecting the interests of the consumer. At the end of a tough year for energy customers, where we have seen many affected by the credit crunch and hikes in energy prices, the introduction of rebates is also good news."

Continued:

"However, at a time when the energy companies are announcing huge profits, it is disappointing that these providers are not doing more to pass on cost savings to the consumer."

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