Suppliers ordered to offer all new tariffs to existing customers

Ofgem has ruled that energy retailers will be barred from offering cheaper, exclusive tariffs to lure new customers on a temporary basis, as part of its twin-pronged package designed to stabilise the market. One supplier has already called for this temporary measure to be made permanent. The regulator has also introduced a new Market Stabilisation Charge so that suppliers which have purchased energy for their customers in advance are better able to recover more of their costs if there is a “sharp fall” in wholesale prices.

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