Sunday, March 3, 2024

Centrica boss calls for reform of energy sector pricing

Centrica’s Group Chief Exec Chris O’Shea has called on the energy regulator Ofgem to implement reforms that could make the energy sector more transparent, simpler and more affordable for customers.

He’s urging abolition of the standing charge from the price cap and putting it into the unit cost, moving to a flat national tariff with no regional variations, and introducing a progressive social tariff to help those who need most help with bill payments.

He said: “Existing energy bills are way too complicated – we’ve got to change that. Any customer should be able to pick up their bill and easily understand how it is calculated, and how they can get help if they need it. It should be simple and straightforward. There are three things we want Ofgem and the Government to change to make the system more affordable, fairer and easier to understand.

He added: “The last few years have shown us that we need to make changes. This is a crucial issue for millions of households. We need other suppliers, distributors, regulators, and the Government to come together, work with us, and help us make these reforms a reality.”

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