Even the cheapest energy deals set to increase by £70, suppliers warn

The Competition and Markets Authority’s proposal to relaxing rules governing switching sites in an attempt to boost competition and drive down prices could actually leave households worse off, a letter signed by six small energy suppliers has recently warned.

Currently, most switching sites follow an industry code requiring them to give users a clear option of seeing all tariffs in the market – not just those where the website can arrange the switch in return for a commission.

The CMA’s proposed changes can only lead to things becoming more opaque and prices going up for customers – by as much as 70 pounds for a dual-fuel contract. And that’s because small suppliers say their deals will be hidden from consumers unless they agree to pay the commission, the costs of which they will then have to pass on to consumers through higher prices.

The letter, signed by GB Energy Supply, Co-operative Energy, So Energy, Zog Energy, Go Effortless Energy and Bulb, warns:

“Millions of people go to price comparison websites believing them to be transparent shop windows for the cheapest prices.

“Customers who search for cheap energy deals online will in future only see offers that big energy companies have paid comparison sites fees to promote.”

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