Friday 24 June 2016

UK MPs to examine CMA’s energy proposals

UK MPs to examine CMA’s energy proposals

The Energy and Climate Change Committee (ECC) is to examine the competition watchdog’s proposals to reform the energy market.

The Competition and Markets Authority (CMA) published its final report today following a two-year investigation. It identified “significant problems” in the market, stating competition is “nowhere near enough”.

The UK MPs will hear from various stakeholders and the CMA team that conducted the investigation on 5th July.

They will also take evidence from consumer groups, academics and industry.

The session will explore a number of themes including the process of the investigation, the perspectives of stakeholders on the remedies proposed by the CMA and how they will be implemented.

ECC Chair Angus MacNeil MP: “My main priority is making sure that any remedies proposed by the CMA and ultimately enacted by the government are in the best interests of consumers.

“I remain concerned that too many households – particularly those on Big Six suppliers’ standard variable tariffs – are paying more for their energy than they should.”

Written by

Bruna Pinhoni

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