Co-operative Energy was one of a small number of new entrants to the energy market invited to a summit meeting with Secretary of State for Energy and Climate Change, Chris Huhne MP. The Secretary of State wanted to know what more the Government should be doing to break the dominance of the Big Six gas and electricity companies and boost competition.
This follows the announcement that red tape is to be cut for smaller energy suppliers to help them break into the market (see 13 June news item).
Chris Huhne said:
“Our energy market has been too cosy for too long. I’m calling a summit of independent energy suppliers so the small guys have an equal chance to bid for your business. We need more competition to keep bills down – it is madness that 99% of people get their energy from the Big Six.
“The current market simply can’t deliver, so we need more companies and more competition to keep price rises as low as possible.
“By meeting directly with the up-and-coming small energy suppliers we can ensure they have a fairer shot at breaking the dominance of the Big Six. I’ve told my officials to knuckle down with Ofgem and make reforms so consumers can have more choice and better deals for their gas and electricity.”
The meeting in Whitehall was also attended by Energy Minister Charles Hendry, Ofgem Chief Executive Alistair Buchanan, and officials at the Department of Energy and Climate Change.
The meeting was an opportunity for Co-operative Energy to set out what we regard as the barriers to entry and growth, offer our suggested solutions, and explore issues such as wholesale liquidity in the electricity market, the impact of government environmental and social programmes and market complexity.