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The prepayment meter (PPM) sector of the energy retail market “needs to have” the safeguard tariff outlined by the Competition and Markets Authority (CMA), according to the energy secretary.
Speaking at Decc orals this morning, Amber Rudd told the House of Commons that PPMs “need reform” and that the safeguard tariff proposed by the CMA in March must be adopted.
The CMA has proposed a temporary price control for the 4 million customers on pre-payment meters (PPM), pending the full rollout of smart meters and wider reform of the market by 2020. It claims the measure will save PPM customers £300 million a year.
Rudd added: “It is unacceptable that the most vulnerable, who are usually on lowest income, are stuck on the highest tariffs and we will be supporting CMA to ensure it delivers on that.”
The CMA is due to publish its final report of its energy market investigation next month.
Read Utility Week’s analysis of changes in the energy market since the beginning of the CMA investigation here.
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