Modernising the energy markets: benefits for users at home
Published 24 June 2016
漏 Crown copyright 2016
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It鈥檚 going to be easier for you to get cheaper energy and to understand what is happening in the energy markets through the changes we鈥檙e making.
It will be cheaper to use a prepayment meter
- If you鈥檙e on a domestic prepayment meter it鈥檚 more difficult for you to switch supplier, and you have far fewer tariff choices.
- We鈥檙e limiting what you pay on a prepayment meter until smart meters have been rolled out and it鈥檚 easier for you to switch. This could save you 拢75 a year.
You could save a lot of money by switching
- If you have been on a standard variable tariff for at least 3 years, you are probably paying more for your energy than you need to: you could save around 拢330.
- To help save you money you鈥檒l be prompted to switch. Other suppliers will be able to write to you, telling you how much money you could save if you switched to them and making it easier for you to choose the best deal for you.
- The prompting system will be closely controlled: you鈥檒l be able to opt out and there will be no irritating telephone calls, texts or emails.
- You can switch now: www.goenergyshopping.co.uk and you can compare energy prices at .
- You can find out more about how energy prompting will work at www.gov.uk.
An improved market for everyone
- You鈥檒l find it easier to understand what鈥檚 happening in the energy markets in the future.
- If you run a small business with fewer than 10 employees we鈥檙e making energy cheaper for you too: Modernising the energy market 鈥� benefits for micro-businesses.
These changes will help consumers by protecting those facing the highest prices; showing those who are overpaying what they could save; and improving the market for all.
Why is this important?
The CMA has carried out a review of the energy markets 鈥� and will implement remedies that will improve it for domestic and microbusiness customers.
Our analysis has shown that, in total, consumers have been paying about 拢1.4 billion a year more than they would have if the markets had been more competitive.
Email: energymarket@cma.gsi.gov.uk
For more information see the energy market investigation case page.
These materials do not constitute legal advice and should not be relied upon as such.