Consumers should not need to have a “suspicious and defensive” relationship with energy suppliers to avoid being overcharged, the business secretary said, after Ofgem figures showed that 60 per cent of Britons were still paying up to Â£300 a year too much on default tariffs. Greg Clark said that the government’s proposed cap on such tariffs was necessary to “give consumers comfort that they are getting a fair deal” and that “their loyalty is not being exploited”. A report published by the energy regulator yesterday laid bare the extent of the two-tier market in Britain, in which savvy consumers get good deals subsidised by those who do not shop around. This divide was becoming more pronounced, the regulator said. While switching was increasing back to levels not seen since 2011, 58 per cent of households had never switched or had switched only once, Ofgem said. Poorer households were disproportionately likely not to have switched and to be stuck on worse deals.
Times 1st Nov 2017 read more »