City AM’s suggestion that Ofgem has given in to politicians by proposing that the energy market is referred to the Competition and Markets Authority for investigation is completely untrue. The competition assessment was carried out by three independent regulators, Ofgem, the Office of Fair Trading (OFT) and the Competition Markets Authority. Ofgem’s decision was also made independently and is based on what is best for consumers. The decision is supported by the OFT, as it clearly stated yesterday. It’s also completely wrong for Philip Booth to suggest in his article that Ofgem is to blame for competition problems. His accusation that Ofgem is reducing competition through its latest reforms to make the market simpler, clearer and fairer is simply untrue. Consumers have told Ofgem that the number and complexity of tariffs made the market too confusing. Our reforms address this – but not in a way that limits innovation, as suppliers still have plenty of scope to choose the tariffs they offer.
Rachel Fletcher, interim senior partner, markets, Ofgem
It’s sad that support for renationalisation of energy companies is rising. But given political interference, they’re hardly independent of government now.
BEST OF TWITTER
UK recovery not just a consumer story: investment rising and savings ratio should start rising.
When the ECB unleashes its super easing bazooka, how long until they realise that still won’t work?
Miliband: Labour is party of small business. Our survey showed 10 per cent of microbusinesses agree.
Bemused folk are surprised that green taxes push up energy prices: they’re designed to disincentivise use.