There is a cross-party debate in the House of Commons today into energy prices.
As an energy supplier set up to do things differently, and fairly, we welcome this debate.
The energy market as it stands is broken. Two thirds of households remain on expensive standard variable deals, paying hundreds of pounds more per year than they need to.
The good news is, switching rates are on the up, and more people are joining independent companies like Bristol Energy for a fairer deal and a better service. But more needs to be done to encourage switching.
Here’s what Peter Haigh, our Managing Director, had to say in advance of the debate.
“As a supplier set up to do things differently, we welcome this debate into unfair practices. We’ve been in business for just over a year, yet we’re still able to price our standard variable tariff below the Big Six. Energy suppliers should be encouraged to reward loyalty, not penalise people for staying with them.
“One suggestion is a relative price cap, which would set a limit on Big Six standard variable tariffs against their cheapest fixed deals. But we would call on the government to make sure any changes to the market are developed to help encourage switching, and encourage wider competition.
“A price cap is likely to cause an increase in fixed and variable prices across the sector, and reduce competition. Which is the opposite of its intention.”