The Week’s Top Energy News
Top News In Energy This Week This week we’ve seen a flurry of green energy stories – including gr...Read More
The findings of an investigation into the energy industry are to be delayed, provisionally until January 2016. What does this mean for your business energy?
The Competition and Markets Authority’s (CMA) investigation has been extended by 6 months from 25 December 2015 to 25 June 2016, although it aims to publish its provisional decision on remedies in January 2016 with a view to reaching its final decision by the end of April 2016, the CMA said on its website.
The delay is partially due to the many “detailed responses” received from suppliers, consumer groups, the Government and regulators to the provisional findings and range of potential ‘remedies’ published in July (our analysis may help clarify the technicalities).
The review may have far reaching implications: remedies could go as far as enforcing the break-up of energy suppliers if it finds they are breaching competition rules. “As the most comprehensive investigation into the energy market since privatisation, this is a once in a generation opportunity to shape the future of this market for the better. It’s important that we get it right,” said Roger Witcomb, Chairman of the energy market investigation.
With so much at stake, the CMA wants to ensure it has sufficient time to combine analysis of responses with further evidence-gathering, aiming for “as comprehensive a solution as reasonable and practicable”.
The CMA’s provisional findings identified a large number of areas where there might be a competition problem, including a possible lack of consumer engagement in both domestic and microbusiness sectors, the ‘four tariffs rule’, the Department of Energy and Climate CHange’s (DECC) processes for allocating clean energy subsidies, the industry’s gas and electricity settlement systems, the roles of Ofgem and DECC in regulatory decision-making, locational pricing of electricity, and energy code governance. “We now need to refine our analysis in the light of the many responses we have received, to design potential measures that are effective and proportionate to remedy each possible issue, and then to consult widely on those potential measures,” Witcombe added.
“This is a huge programme of work and we have concluded that we could not complete it by the original statutory deadline. We have therefore decided there are special reasons for extending the reference period which will allow us some extra time to finish the job.”
Better regulation is long overdue in the business energy sector, as SwitchMyBusiness.com has previous argued. The delay to the publication of findings shows how complicated action in this area can be. Enforcing remedies could be even more time consuming.
In the meantime, many small to medium sized businesses are missing out on lower energy prices. To compare business energy suppliers can take just 20 minutes: give us a call on 0330 0100 251 (or request a call back using our form).
Competent and courteous service.
"Marie was knowledgeable and helpful. I feel able to recommend the service given without reservation. David Slesenger"This review was posted by David Slesenger on the 16th of August 2016
"Nadia was very helpful"This review was posted by Robin on the 16th of August 2016
Excellent Customer Service *****
"Jonathan Burgess is an asset to Switch My Business. He made me feel at ease and was more than helpful at all times. He made regular contact and guided me through the whole process which made switching a breeze. I just wish there were more customer service advisers like Jonathon whose friendly and happy demeanour make your day a much nicer one. Well done Switch my business and more importantly thank you Jonathon for all your hard work! Maria Owen Lodgecrest"This review was posted by Maria Owen on the 17th of August 2016
EXCELLENT CUSTOMER SERVICE
"I totally agree with a customer maria owen,Jonathan Burgess was such a pleasure dealing with and is truly a asset to the company, he made it very easy to switch my electricity companies, Jonathan Burgess was very helpful, easy to talk to it was like talking to a friend not just a customer adviser. I would definitely recommend switchmybusiness and try get hold off Jonathan Burgess if possible and have the same excellent service as I did. Rajan Shanan"This review was posted by Rajan Shanan on the 19th of August 2016
Excellent and very helpful
"Arron who dealt with my switch of energy and gas has been a huge help and extremely efficienct and easy to deal with. Despite British Gas throwing obstacles in the way at every turn he has doggedly stuck to his task and saved the day. Thanks Arron."This review was posted by Rod Pryce-Jones on the 19th of August 2016