EDF Energy response - CMA summary of its provisional decision on remedies
The Competition and Markets Authority today published a summary of its provisional decision on remedies.
We support the emphasis on competition and helping customers to make an active choice.
The company’s chief executive Vincent de Rivaz first called for an inquiry into gas and electricity markets in 2011 to restore trust. EDF Energy has already taken significant steps to make choice easier. This has led to around 45% of EDF Energy customers being on fixed tariffs, including more than half of our vulnerable customers on our Priority Services Register. This is well ahead of the 30% average noted by the CMA.
EDF Energy believes that more should be done by the whole industry to encourage customer choice:
EDF Energy welcomes the opportunity to innovate and offer choice to customers, so future tariffs can be more closely tailored to customers’ needs
EDF Energy has argued that help for customers should be directed to those who need it most, with the introduction of a discount for those identified as vulnerable, regardless of which tariff they are on
EDF Energy supports price transparency for small business customers (known as microbusinesses). We already publish our Freedom prices and offer an online quotation tool
Vincent de Rivaz, EDF Energy’s Chief Executive, said: “Customers want simplicity, better service and fair value.”
“We haven’t waited for the inquiry to take action for customers and we have done a great deal to make choice easier and improve the service we provide. We are helping to transform the industry through digital innovations like smart metering and connected home technologies. We believe more can be done on an industry-wide basis to help all customers utilise these technologies and make active choices.”
With EDF Energy’s industry-first ‘Price Promise’, customers can already check if they can get a better deal elsewhere with a personalised comparison and there are no exit fees.
EDF Energy will carefully review all of the proposed remedies and continue to provide constructive feedback as the CMA reaches its final conclusions.
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 6 million business and residential 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 15,000 people at locations across the UK.
To find out more about the UK's energy challenges look at www.edfenergy.com/energyfuture/