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Thursday, January 27, 2022
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BEIS to publish price league table


Britain’s energy regulator will launch a league table of energy suppliers on Wednesday, showing households where they can save money on their bills, the government said.

The league table would be the first time details have been published showing the number of people on expensive standard variable tariffs, the Department for Business, Energy and Industrial Strategy (BEIS) said in a statement.

Energy bills have doubled in Britain over the past decade to an average of around 1,200 pounds ($1,525) a year for gas and electricity combined, and the government said it could intervene in the market if it believes prices are too high.

The league table will compare the average energy bill paid by someone on a standard variable tariff (SVT) at the larger energy companies with deals available from the 10 cheapest suppliers, BEIS said.

“Millions of people across Britain continue to pay too much for their energy. The measures announced today are a positive step to help more people benefit from increased choice and competition,” Business and Energy Secretary Greg Clark said.

Around two-thirds of customers at Britain’s Big six energy suppliers — Iberdrola’s  Scottish Power, RWE’s npower , E.ON  , EDF Energy, SSE  and Centrica  owned British Gas – are on SVTs, which are often much more expensive than the fixed price deals on offer.

(Reporting By Susanna Twidale, editing by David Evans)

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