23 Jul Energy Price Rise
The energy regulator has been accused by experts of pushing up the price of gas and electricity by introducing reforms which has also resulted in reducing the number of homeowners who are switching suppliers.
Suppliers were asked last year by the regulator, Ofgem to simplify their offers after they were accused of “bamboozling” consumers in a recent report by the regulator’s Retail Market Review.
They stated that tariffs were complex and discounts made it difficult to draw a comparison and switch suppliers. They hope to publish a set of guidelines in winter this year which should help to analyse bills easier when looking for the best deal.
Many suppliers including British gas and Scottish and Southern have already taken steps to simplify their offerings but unfortunately this move has removed some of the cheapest tariffs.
Uswitch, the cost comparison website, released their latest findings and showed that customers on cheapest bills have seen rises on average by £249 since September 2010.
Data released last month indicates that the number of customers switching has plummeted despite suppliers simplifying their deals. Comparing the past three months with the same period in 2010 The Department of Energy and Climate Change show a 33% decline in the number of people switching gas provider. Electricity switching has fallen 25%.
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