Christopher Pincher calls for more transparency in energy prices

Tamworth’s Member of Parliament Christopher Pincher, who is an active member of the Energy and Climate Change Select Committee, has welcomed Ofgem’s proposed simplification plan to make energy bills more straightforward.  And he has called for greater competition in the wholesale market to help drive down retail prices.

Mr. Pincher said:

“I am disappointed that the energy companies’ profit margin has hit a staggering £125 per customer.   I know that the margin fluctuates and of course we want the companies to turn a profit so they can reinvest in much needed new infrastructure, but people are struggling to pay their spiralling energy bills so we need a new approach.”

“I am pleased that Ofgem are introducing a simplification plan that will help consumers find the best deals.   Under the plan suppliers will be required to have ‘no-frills tariffs’, consisting of a standing charge, fixed by Ofgem, and a unit charge for energy used – which will be different between suppliers, enabling consumers to have clear price comparisons. Ofgem, the Department for Energy and Climate Change and the Energy Select Committee are looking at ways to help people save money on their energy bills and I look forward to further announcements.”

“However, more needs to be done to make the wholesale market, from which the companies buy the energy they sell, more transparent.