Following the CMA’s evidence to BEIS Select Committee today (12th December), as part of the pre-legislative scrutiny of the draft domestic gas and electricity (tariff cap) Bill, Neil Clitheroe, CEO of Retail at ScottishPower, said:
“Two years ago we told the CMA a price cap will not help engagement in the energy market; only removing standard tariffs can do this. We believe our loyal customers should be rewarded by being on our best tariffs. In fact, most of them already are with over 65% of non-prepayment customers now on fixed price deals, that’s lower than the rest of the Big Six.
“If every customer was on a fixed priced product, millions more customers would be prompted to look for the best deal every year and competition would flourish.”