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U.K.: Complex tariff proposal to simplify retail market?

 |  October 21, 2012

Ofgem, the U.K. energy watchdog said that it plans for “simpler, clearer, fairer measures” to improve competition in the household market, by putting an end to consumers being confused by complex tariffs. The watchdog said that it plans to ban multi-tier tariffs, scrap tariffs and limit the number of core tariffs by each supplier. Its new proposal would force companies to display their cheapest tariff, on consumers’ bills, and enforce fair treatment by standards of conduct that are backed by fines.

The announcement comes after big energy companies said that they would raise the standard prices for gas and electricity, and from a commitment made by David Cameron, U.K.’s Prime Minister, to reduce people’s energy bills in the U.K.

Full Content: Fox Business

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