Ofgem sets out proposals to shake up energy market

Ofgem this morning unveiled plans to force energy suppliers to tell customers about the cheapest tariff they have on offer.

The energy regulator put forward proposals for a package of more transparent measures to improve the competition in the household energy market.

The proposals want suppliers to provide vulnerable customers and those who haven’t switched energy deals for a long time with information about the cheapest across the market.

Ofgem wants suppliers to simplify the way they express tariffs, including clearly presenting dual fuel discounts separately.

Alistair Buchanan, chief executive of the regulator, said this morning: “Our plans will put an end to consumers being confused by complex tariffs and will usher in a simpler, clearer, fairer and more competitive energy market for all consumers.”