Ofgem timetable for fairer bills could help those looking to compare energy prices - 20/10/2009
Homeowners looking to switch gas and electricity companies to pursue cheaper rates could be encouraged by a new Ofgem timetable for billing reform.
The energy industry regulator has set out new rules intended to make energy bills fairer following its concern about the discrepancies between costs faced by consumers for different modes of payment.
Energy suppliers already have to ensure prices reflect the cost of processing particular payment types and between July and December next year all consumers will receive an annual statement offering such details as what their existing tariff is and their consumption rate.
Andrew Wright, Ofgem senior partner for markets, said: "The new standards define the spirit of the new rules to go with the letter of the laws. They call on suppliers to be clear, fair and courteous and to take the confusion out of comparing products."
Energy companies have faced intense criticism this year for failing to pass on substantial cuts in the wholesale market to the consumer.
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