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Ofgem propose new protections for small firms from utility suppliers
Energy watchdog Ofgem has unveiled a new code of practice for suppliers that will crack down on unfair price differences in a bid to give small businesses and retail customers more power.
The regulator will ban unjustified price differences and include a set of remedies to give new rights to small and medium-sized businesses.
Ofgem is proposing that suppliers provide new protections for small businesses including an end to automatic rollover when fixed-term contracts expire, a standard annual statement with a reminder of the customer's right to switch and simplified information on tariffs to make comparisons easier.
"This is an emphatic move by Ofgem to clear the decks of obstacles that prevent consumers from getting access to the best offers," said Alistair Buchanan, Ofgem chief executive.
Utility companies still have to agree to the proposals before they are implemented. However, Ofgem has said it may take the matter to the Competition Commission for a more detailed investigation if the companies oppose their new proposals.
Post Date: March 23rd, 2009
The regulator will ban unjustified price differences and include a set of remedies to give new rights to small and medium-sized businesses.
Ofgem is proposing that suppliers provide new protections for small businesses including an end to automatic rollover when fixed-term contracts expire, a standard annual statement with a reminder of the customer's right to switch and simplified information on tariffs to make comparisons easier.
"This is an emphatic move by Ofgem to clear the decks of obstacles that prevent consumers from getting access to the best offers," said Alistair Buchanan, Ofgem chief executive.
Utility companies still have to agree to the proposals before they are implemented. However, Ofgem has said it may take the matter to the Competition Commission for a more detailed investigation if the companies oppose their new proposals.
Post Date: March 23rd, 2009
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