18th Feb 2015 07:12
LONDON (Alliance News) - SSE PLC on Wednesday said it will work with the Competition & Markets Authority after the UK competition regulator published a report which indicated energy suppliers in the UK are charging long-term customers higher prices.
The CMA found a total of 95% of dual-fuel customers on standard variable tariffs would have saved GBP158 to GBP234 per year had they switched provider between 2011 and 2014.
SSE said it intends to continued "working constructively" with the CMA, adding it "continues to believe that an independent and authoritative market investigation will help to address key issues and as a result help to restore the confidence of both customers and investors".
"While they clearly result in a degree of short-term uncertainty, the continuing energy market investigation along with the forthcoming UK general election do provide opportunities to achieve greater regulatory and policy stability in the Great British energy market, for the benefit of customers and the required investment in the country's energy system. It is in everyone's interests that we have a trusted energy market that not only works for customers but is seen to do so," said SSE Chief Executive Alistair Phillips-Davies.
By Sam Unsted; [email protected]; @SamUAtAlliance
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