FSB backs energy reforms ruling

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FSB backs energy reforms ruling (image credit: iStock/choness)

The Federation of Small Businesses (FSB) has been supported in its calls for a fairer UK energy sector by the latest recommendations of industry regulator Ofgem.

An end to the auto-rollover of contracts onto higher fixed rates and a wider dissemination of tariff information for all customers are two of the main changes that Ofgem now aims to introduce to the sector in the months ahead.

FSB national chairman Mike Cherry stated: "We welcome this swift response from Ofgem, which will, within the next year, put an end to restrictive auto-rollover clauses and see microbusiness suppliers publish their energy tariffs in a clear and comparable way."

He added that the regulator should now enter into a formal review of the UK's regulatory framework to ensure businesses of all sizes - but predominantly those of a smaller nature and with tighter cashflows - are being offered and are aware of those deals that are most suited to meet their needs.

The changes will help to encourage more UK businesses to regularly assess and change their energy tariff, while at the same time it will provide a welcome boost to competition within the sector - ensuring greater awareness around the best deals that are to be found and encouraging companies to match or better these offers in order to maintain existing customer relations.

It marks another step towards the introduction of a new code of practice among non-domestic third-party intermediaries - something the regulator hopes to see introduced by the end of next year.