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Ofgem welcomes Competition and Markets Authority report

Ofgem said:

“We welcome the CMA’s Provisional Findings on competition in the energy market. We will work with them, to develop and implement their final remedies, where they fall within our jurisdiction, to deliver a more competitive market for consumers. Ofgem asked the CMA to investigate the energy market because of our concerns that competition in the market is not working for all consumers. We will respond to their consultation within the CMA’s timeframe.”

The CMA has yesterday published its provisional findings after a comprehensive year-long investigation into the energy market.

In a summary of its provisional findings (PDF, 629KB, 48 pages) published yesterday, the Competition and Markets Authority (CMA) has highlighted a range of problems hindering competition in the market, including the extent to which consumers are engaged in the market and shortcomings in regulation and the ability to deliver change across the market. It also points to the need for a coherent and transparent approach to responsibilities and policy implementation by those overseeing the industry.

Related information

CMA sets out case for energy market reform

 

Channel website: https://www.ofgem.gov.uk/

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