Skip to Content

New Energy Legislation

The Government is to introduce new legislation to fix a ‘broken’ energy market.




The problem.

The problem is the energy suppliers look to provide excellent rates for new customers for a fixed term, then the tariffs revert to standard variable tariffs, which tend to be less than competitive.

That’s fine for the savvy customer who is ‘on it’ when it comes to searching the market place for the best deals, but not so good for, say my 80-year-old mum, who does not have the internet and isn’t keen on change, or for the many of us who don’t understand the market.

It is an opportunity for the energy suppliers to make money, after all they are a company and do have a duty to shareholders, but is this the right way to do it.

The solution.

The Government has drafted new legislation that will cap what the energy suppliers can charge for those on the standard tariffs, whilst we don’t know what the cap will be, it is estimated to save a customer over £100 per year; it’s unlikely that this will come into force until 2019.

Ironically the announcement by the MP saw shares in the Energy Company’s rise, perhaps because they had been anticipating the worst and it was not that bad, whatever happens I am sure the profitability of energy companies will be fine and whilst some consumers will gain, others will lose.

The move has been criticised by price comparison websites, calling it ‘negligent’. It’s difficult to criticise the move made by the Government as it will benefit those who need it most, whilst it may narrow the difference between ‘deal rates’ and ‘standard rates’ I am sure, even if the commission paid to the price comparison sites has to fall, people will still look to switch and make a saving-however small.

The solution.
Image Description
related news
recent articles
Flying Freehold

What is a Flying Freehold and should it matter?..

link

Consumer rights at Christmas returning gifts

We have all been there, that jumper from Uncle Tom with a reindeer on it just will not cut it and its four sizes too small, the electric car you bought online g..

Restrictive Covenants

Restrictive covenants - If you happen across a restrictive covenant in a contract, what is it and why is it in place?..

Energy Performance Certificates

Energy Performance Certificates. Domestic and Commercial properties that are available to buy or rent must have an Energy Performance Certificate (EPC). What a..

Government to introduce New Homes Ombudsman

The government announces a New Homes Ombudsman to protect consume..

link

Flying Freehold

What is a Flying Freehold and should it matter?..

Your rights as a Tenant

Tenant Rights. As a tenant, one of the most important steps to protecting your tenure is to take advice before you sign any agreement, any Landlord and tenant s..

Neighbour Disputes | Trees and Hedges.

Neighbour Disputes can escalate to affect your life and enjoyment of your property, if handled in the wrong way they can cause tension and in some cases argumen..

Selling a house, what do I need to declare?

As part of selling a house or flat in England and Wales you must..

link

Leasehold v Freehold.

The biggest difference is whether you own your home or you have a landlord, on a freehold property you own your home, with a leasehold property you will have a..

Professional Negligence Claims.

Guide if you have suffered Professional Negligence. Professional Negligence solicitors deal with action against those in the professional services industries, a..

Lifetime Mortgage.

Mortgages for life, may soon be an option...

Image Description
Is there anything wrong with this page? - any amendments will receive accreditation - email us

Solicitors.com are not a firm of solicitors, and any content on the site should not be used in substitute for obtaining Legal advice from a solicitor regulated in the UK, Solicitors.com recommends that you contact a firm of solicitors to discuss your individual legal requirement. Whilst we strive to bring you accurate up to date content, all content on this site is not legal advice and is not guaranteed to be correct. Use of this site does not create a client relationship.

Information by area of law
Back to top