CMA unveils plans to make the energy market more competitive
The Competition and Market Authority (CMA) have today released a report outlining remedies to address the problems holding back competition in the energy industry. The CMA will introduce these solutions following the conclusion of its investigation in June. Despite the increase in independent energy suppliers, providing competitively priced energy tariffs, 88% of UK households remain with the “Big Six” Energy suppliers; British Gas, EDF, E.ON, Npower, Scottish Power and SSE. Around 70% of those customers are STILL on the more expensive ‘default’ Standard Variable Tariff and the CMA’s latest analysis reveals that the potential savings for these customers has risen significantly over the past 2 years – with the average customer making a saving of over £300 by switching to a cheaper deal!