Energy plays a fundamental role in our everyday lives. Electricity and gas contribute to our economy by manufacturing, commerce and local businesses. Energy also keeps people and their households warm and connected.
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In response to the publication from the Competition and Markets Authority, Energy UK said:
Switching energy supplier is one of the quickest and easiest ways for households to cut down on their energy bills. New, cheaper tariffs are being launched every week meaning that customers could save hundreds of pounds on their annual bill. The savings are even greater for households who haven’t switched in a long time.
More than 211,000 households changed electricity supplier in January to find a deal that works best for them. This represents a return to the usual switching levels following the traditional increase over November and December. 26 per cent of all switches were moves to small suppliers. This is an increase of around 5 percentage points in comparison to the previous month. Small suppliers gained a net 56,000 new customers.
In response to the report from Which?, Lawrence Slade, chief executive of Energy UK said:
Estimates of how much money energy companies might make have been wildly exaggerated in recent years. New, independent research from NERA has found Ofgem estimates have been consistently out over the last four years by as much as 200 per cent. This is despite Ofgem revising its methodology in recent months.
One million UK homes have received energy efficiency measures thanks to the Energy Company Obligation (ECO) and Green Deal. The energy industry has worked tirelessly to meet its obligations with 97% of home improvements being a result of ECO. The industry is committed to helping households improve their energy efficiency as a means of saving money and keeping warm.
Customer service is a key priority for energy companies which is why they have been investing in new systems, staff and new cheaper tariffs. Change takes time in an industry as large as the energy sector. It is heartening to see that Which?’s customer satisfaction score has improved, however we do not underestimate the challenges ahead. This comes at a time when the best tariffs are up to 10 per cent cheaper than this time last year.
Paying for gas and electricity can be a real concern this time of year. Energy companies have put a number of systems in place to protect the most vulnerable, especially lower income families with children. The Energy UK Safety Net was set up to vulnerable people do not get cut off, if they are unable to pay their bill. The scheme includes specific protections for families with young children. It is important for customers to notify their supplier immediately if their situation has changed and they are worried about paying their energy bill.
The energy industry welcomes new rules to make sure price comparison sites are as transparent as possible with consumers.
Energy UK has responded to the letter received from Fergus Ewing MSP regarding falling oil prices.