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CMA publishes findings of energy market review

The CMA has concluded its energy market investigation setting out a wide range of reforms to modernise the market for the benefit of customers.

The CMA recently released the final findings on its review of the UK energy market after the most comprehensive investigation since privatisation.

Over 30 new measures seeking to modernise and reform the market will be introduced. These include changes increasing competition between suppliers, driving down costs and helping more customers switch to better deals. They also include a number of technical and regulatory changes to modernise the market and ensure it works in consumers’ interests.

Modernising the market will equip it to meet future challenges and allow it to take full advantage of the forthcoming technological advances, such as smart meters, which have the potential to transform the way we use energy. There is also a significant focus on enhancing switching processes.

techUK welcomes the CMA’s recognition of the vital role technology can play in reforming the energy sector, supporting competition and a better consumer deal.

Following the release of the report, the Energy and Climate Change Committee is set to hold a hearing on the CMA's proposals next month, where it will interview consumer groups, academics and industry, as well as the CMA directly.

A copy of the final report and related materials can be found below

Full final report

Summary of investigation and key recommendations

Decision on adverse effect on competition and remedies

 

Channel website: http://www.techuk.org/

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