EDF Energy reiterates its support for swift implementation of the CMA’s remedies
EDF Energy supports the implementation of the CMA’s proposed remedies without delay, so that customers can continue to benefit fully from competition and innovation.
The CMA has conducted a thorough and detailed investigation into the energy market over the past 2 years. EDF Energy’s Chief Executive first called for an independent investigation in 2011. Taken together, the package of improvements proposed by the CMA will have a lasting and positive impact for consumers.
In particular, we agree with the conclusion that some customers do not benefit enough from competition between suppliers, because they are not making an active choice of tariff or supplier. We are committed to engage more of these customers and put them in control, through purposeful competition that builds trust.
We haven’t waited for the results of the CMA investigation to take action. We actively engage our customers as well as consumers in the market generally, to ensure they’re getting the best deal from their supplier and put them in control of their energy bills. As a result, we believe we have the largest proportion of customers on fixed price tariffs of the major suppliers, at around 42% (around 60% of vulnerable customers).
Earlier this year, EDF Energy ran a trial testing the language of prompts for customers on reviewing their tariff. In May, we launched our Show Me Your Bill campaign and app. The Show Me Your Bill functionality in the app uses a QR reader that customers can use to scan competitor bills and instantly display the savings that can be made by switching to an EDF Energy tariff.
Ofgem has an integral role to play in delivering the remedies package, especially in providing clear, reliable and trustworthy information about the energy industry. We want to see a strong, independent, respected regulator trusted by customers and companies alike. We therefore strongly support the improvements to the regulatory framework that the CMA has outlined.
For more information contact:Craig Owen
External Communications Officer - Customers
EDF Energy is one of the UK’s largest energy companies and the largest producer of low-carbon electricity, producing around one-fifth of the nation's electricity from its nuclear power stations, wind farms, coal and gas power stations and combined heat and power plants. The company supplies gas and electricity to over 5 million customer accounts and is the biggest supplier of electricity by volume in Great Britain.
EDF Energy’s safe and secure operation of its eight existing nuclear power stations at sites across the country makes it the UK’s largest generator of low carbon electricity. EDF Energy is also leading the UK's nuclear renaissance and has published plans to build four new nuclear plants, subject to the right investment framework.
These new plants could generate enough low carbon electricity for about 40% of Britain’s homes. They would make an important contribution to the UK’s future needs for clean, secure and affordable energy. The project is already creating business and job opportunities for British companies and workers.
Through Our Better Energy Ambitions, EDF Energy has developed one of the biggest environmental and social programmes of any British energy company.
In 2014 EDF Energy received seven ‘Big Ticks’ in the Business in the Community (BITC) Responsible Business Awards. In 2013 EDF Energy received the Environmental Leadership for Behavioural Change Award in the national Environment and Energy Awards and was highly commended in the first ever pan European Corporate Social Responsibility Awards scheme for its Sustainable Schools programme – the Pod.
EDF Energy is part of EDF Group, one of Europe’s largest power companies. The company employs around 14,000 people at locations across the UK.
To find out more about the UK's energy challenges look at www.edfenergy.com/energyfuture/