Energy suppliers required to give advance notice of price changes - 28/03/2011
Energy suppliers will be required to give their customers at least 30 days' notice before increasing their prices, Ofgem has ruled.
The industry regulator's move means that from April 28th, providers of cheap gas and electricity will have to notify customers in advance if there is any change in their contract which is likely to leave them significantly worse off.
Andrew Wright, senior partner for markets at Ofgem, commented: "Today's changes will again show that we are serious about making sure suppliers play it straight with consumers.
"We believe that 30 days' advance notification of price increases, coupled with our new proposals for more transparency and an end to complex tariffs, will give consumers more power to make informed switching choices," he added.
The decision comes as part of sweeping reforms led by the watchdog to lessen the influence of the Big Six energy suppliers on the market.
Last week Ofgem pledged to sweep away the "complexity" and complication of billing procedures, so that consumers are no longer "bamboozled" by their energy tariffs.
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