Energy UK comments on Ofgem's announcement to increase the level of the safeguard tariff
Responding to Ofgem’s announcement, Energy UK’s Chief Executive Lawrence Slade said:
“No one takes the decision to increase prices lightly however as Ofgem’s decision today illustrates, input costs - which make up the vast majority of an energy bill and are out of a suppliers direct control - have increased and have risen by 14% from May 2017 to May this year.
“The energy market is changing rapidly and, with over 70 suppliers in the market, has never offered so much choice. That is why it’s vital that any interventions in the market don’t halt the growth of competition or have any unintended consequences for consumers, but instead encourage the growth of robust, innovative energy companies.
“Suppliers remain committed to further improving support for customers in vulnerable circumstances which is why we launched our independently-chaired Commission this year to look at how to improve services and support for those in most need.”