Energy Markets (Competition)

Part of Energy and Climate Change – in the House of Commons at 9:30 am on 19 June 2014.

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Photo of Edward Davey Edward Davey The Secretary of State for Energy and Climate Change 9:30, 19 June 2014

The Government are strongly committed to improving competition. Since 2010, 12 new companies have entered the market, meaning that there are now 19 independent domestic suppliers competing with the big six. Latest figures show that half the households that switch are moving to independent suppliers and we are set to halve the time it takes to switch. Ofgem’s retail market reforms have delivered a simpler, clearer market, and its market maker obligation is improving wholesale market access for smaller suppliers. Last year, we asked the competition authorities to make an annual assessment of competition in energy markets. Consequently, Ofgem has consulted on a market investigation reference, which we strongly support.