Surprise, Surprise: Energy Price Reforms ‘Doomed To Fail’
The government’s energy tariff reforms are “doomed to fail” without radical new measures, an influential consumer organisation has said.
The tariff reforms – which aim to ensure consumers get the “best” price for power – will not work because of complexity and lack of competition in the market, a report by Which? has said.
It calls on the government to take more radical action, such as the introduction of a “single unit price” so prices and deals can be compared easily, and measures to make it easier for customers to switch providers.
Richard Lloyd, the executive director of Which?, said trust in energy companies had collapsed.
“The government’s energy tariff reforms are doomed to fail without more radical action to increase competition,” he said. “Only with tougher action to tackle this broken market will consumers be confident they’re paying a fair price.”