CBI says customers must get competitively-priced energy, while business needs stable Govt. policy

By DARA BUTTERFIELD 

In its response to the competition authority’s report on the UK energy market, the Confederation of British Industry called on the Government to set out a clear long-term energy plan.

Katja Hall, Deputy Director-General, CBI, said: “Consumers must lie at the heart of competitive markets.

“This thorough investigation by the CMA is a good opportunity to restore public confidence in the energy market. “

These early findings demonstrate that every effort must be made to ensure people have the information they need and can more easily shop around for the best deal.

“As the Competition and Markets Authority’s report recognises, some of the costs we pay for energy are the result of cutting emissions and making the transition to a low-carbon economy.”

And in its new report, Setting The Bar, the CBI lays out businesses’ energy and climate change priorities for the Government. The CBI is calling for the Government to:

• Stick with plans to boost investment in a secure and diverse energy mix by extending the Levy Control Framework (the budget for low-carbon energy incentives) beyond its current timeframe of 2020/21 and setting it for a further seven-year period, to be extended on a rolling basis thereafter
• Play a strong role to shape EU policy and secure a bold and durable deal at the UN Climate Change Conference in Paris
• Put consumers in control of their energy future by implementing the Competition & Markets Authority’s final recommendation, and ramp up the energy efficiency drive with a successor to the Energy Company Obligation
• Continue support for energy-intensive industries to thrive in a low-carbon economy, and have a clear roadmap to simplify the energy efficiency policy landscape for business.

Hall added: “Energy is – and must be – seen as one of the foundations on which we can build economic prosperity. Business needs stability in energy policy, and that means continuity, not chop and change.

“We want to see the new Government articulate a clear, consistent, long-term energy plan which stands the test of time.”

See also:

Competition Authority calls for energy market reform as confusion, complexity, lack of trust and inertia cost households an extra £160 a year on utility bills – http://goo.gl/lzqC2U