LONDON, UNITED KINGDOM--(Marketwire - Nov. 27, 2012) - Proposals to ensure that all households are on the best deal for their gas and electricity as soon as possible were published by the Government on 21 November 2012.
Extract from Government press release dated 21/11/12: "I am determined to ensure all consumers get a better deal on their energy bill and get the cheapest tariff they can." - Energy Secretary, MP Edward Davey
Millions of households are to be moved to better energy deals, with suppliers limited to providing four tariffs per fuel type, and customers are told they will be moved off poor-value 'dead tariffs'.
Households across the country are facing a tough time with their energy bills. The Government cannot control volatile world energy prices, but it is taking action to help people get their bills down.
Following publication of Ofgem's Retail Market Review proposals, the Government is setting out further ideas to help consumers with their energy bills, including the Prime Minister's commitment to ensure that households are on the cheapest tariffs.
The proposals in Ofgem's Retail Market Review build on, and seek to strike the right balance between helping consumers to engage with their power supplier more whilst maintaining consumer choice and incentives for energy suppliers to compete and innovate. The Government intends to include these proposed measures in the forthcoming Energy Bill.
The discussion document published 20th November 2012 seeks views on how the detail of these proposals could operate in practice.
First Utility's response:
"We support the Government in any initiative that increases price transparency and competition between suppliers that will ultimately lead to cheaper energy bills. Nearly three quarters of UK consumers pay more for their energy than they need to. Any new legislation needs to ensure that consumers have transparency of the best tariffs available - from across the market and not just their existing supplier. As the largest of the independent energy suppliers and at the forefront of innovation within this sector, we look forward to working with the Government to provide the UK consumer with a better deal on energy". - CEO Ian McCaig
About First Utility
First Utility is the UK's largest independent energy supplier. It supplies gas and electricity to over 120,000 residential and business customers throughout the UK. First Utility is pioneering the use of new technology within the energy sector to empower its customers to control their energy spend. It was the first UK gas and electricity supplier to offer free smart meters to its customers in 2008. In 2012, it launched my:energy, an online service which provides all customers with detailed information about their energy usage, personalised advice on reducing their consumption and the ability to set targets to help reduce their usage and bills.