Standard content for Members only
To continue reading this article, please login to your Utility Week account, Start 14 day trial or Become a member.
If your organisation already has a corporate membership and you haven’t activated it simply follow the register link below. Check here.
First Utility has claimed that energy customers are overcharged by £3.4bn a year - twice the sum the Competition and Markets Authority (CMA) named when it set out its provisional remedies for the energy market yesterday.
Chief customer officer for the supplier Ed Kamm said he was “surprised” the £1.7bn given in the figure in the CMA’s report was ‘so low’.
Kamm said: “There are some quite big numbers, £1.7 billion worth of saving opportunity per year over the last four years. Actually, I’m surprised it’s that low, because we recorded a number of £3.4 billion and right now the gap between the cheapest tariffs and the standard tariffs is £300.”
Responding to the CMA’s proposed remedies, Kamm said: “[It is] dependent on how these measures are implemented but it is starting to head in the right direction.
“There are some areas where we would have been more aggressive but I think it is something for us to work with and start testing to see how we can drive engagement.”
Please login or Register to leave a comment.