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Ovo Energy has called the Competition and Market Authority’s investigation into the energy market, “a complete waste of time” following the provisional decision on remedies published this week.
Responding to the findings, Ovo’s founder and chief executive Stephen Fitzpatrick said: “The last two years have been a complete waste of time and taxpayers’ money.
“Some of the CMA’s nonsensical ideas will actually do more harm than good to customers.”
Ovo also criticised the data sharing remedy from the findings as being “unlikely to present a long-term solution”. The measure would require suppliers to provide customer data of those who have been on a standard variable tariff for over three years to an Ofgem controlled database – rival suppliers would then be able to access this information and target marketing to compete for them.
Fitzpatrick added: “Ovo will continue to put the customer first and today’s announcement won’t affect the way we run our business.”
The final report is expected in June 2016.
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