Which and FSB call for a further review of the energy market

March 24:

Which? and the Federation of Small Businesses (FSB) are calling for the energy market to be subject to a further review by Ofgem, the Office of Fair Trading (OFT), and the Competition and Markets Authority (CMA).

In a joint letter, the consumer watchdog and the FSB call in the three regulators for a “phase two investigation to address the pressing issues” in the energy market.

Which? executive director Richard Lloyd and Mike Cherry, FSB national policy chairman, wrote: “It is clear that the energy market is broken and urgently needs fixing.”

The top concerns about the energy market from householders and businesses are said to be a lack of competition and the need for transparent trading.

“It is now time for radical changes that deliver an effective, competitive market that works for everyone, before the scale of the crisis worsens,” the letter added.

The organisations also call for price comparisons and switches to be made easier and simpler for domestic customers and small- and micro-businesses.

Source: http://www.utilityweek.co.uk/news/which-and-fsb-call-for-a-further-review-of-the-energy-market/990612?#.Uy9-yfl5MrU